Hyderabad MP Asaduddin Owaisi lodged a complaint with the Central Crime Station (CCS) against a private company of trying to cheat people. He alleged that Heera Group of Companies based at Masab Tank, which claims to run several business ventures in different parts of world, was trying to cheat innocent investors in the city. CCS police has booked a case against the managing director of Heera Group Nauheera Shaik under IPC section 420 (for cheating)and 406 (for for criminal breach of trust).
Mr Owaisi alleged that the company was luring investors with advertisements in newspapers. “The company claims that it has a turnover of `100 crore with around 20,000 investors. We doubt if the company has even been registered or acquired permission from the Reserve Bank of India,” he said. The company’s website boasts of ventures like Heera Gold Imports and Exports, Heera Inves-tments, Heera Textiles, Heera Electronics and Heera Jewelleries.
However, Mr Owaisi alleged that the firm was trying to dupe the investors by making false claims. According to investigation officer M. Raveender Reddy, inspector WCO Team, CCS, the cops were verifying if the company was registered as a Non Banking Financial Company (NBFC) with the RBI. “We are verifying all the allegations against the company and we are likely to reach a conclusion in a few days,” he said. He added that the company was established in 2010. Meanwhile, another complainant, S.M.A. Quadeer, who lodged a complainant against the same company in 2010, claimed that he had got an official letter from the RBI stating that Heera companies were not registered as an NBFC with RBI.