The Enforcement Directorate has completed the registration of nine auctioned properties linked to the Heera Group case and taken possession of two additional immovable assets in Hyderabad, bringing the value of properties involved in the latest actions to more than Rs 191 crore.
The agency said the registration of two prominent properties in Banjara Hills — Karvy Centre and Naina Towers — was completed on Friday. These assets formed part of a set of nine properties auctioned in connection with the case, with a combined value of Rs 103.26 crore.
The Enforcement Directorate had registered seven other properties on October 5. With the completion of the two Banjara Hills registrations, the agency said the transfer process for all nine auctioned properties had been completed.
In a separate action connected to the investigation, the ED took possession of two additional immovable properties in Hyderabad valued at Rs 88.23 crore. The agency’s actions are part of proceedings under the Prevention of Money Laundering Act, 2002, in the case involving Nowhera Shaik and entities associated with the Heera Group of Companies.
According to the ED’s investigation, the accused entities allegedly collected more than Rs 5,978 crore from the public after promising annual returns of over 36 per cent. The agency said the entities failed to make repayments, leading to proceedings aimed at tracing, attaching and recovering assets linked to the alleged financial irregularities.
The scale of the property action places several high-value urban assets within a wider enforcement and recovery process. The properties in Banjara Hills, one of Hyderabad’s established commercial and high-value residential districts, are now part of legal proceedings involving the identification and transfer of assets connected to the case. The agency has not indicated in the supplied statement how the newly registered properties will be managed or monetised following the auction and registration process.
The ED said it had issued five provisional attachment orders covering assets valued at Rs 428.83 crore. It has also filed prosecution complaints before a special court dealing with PMLA cases in Hyderabad. Provisional attachment is an enforcement measure under the law and remains connected to adjudication and court proceedings.
The case also involves the custody of Nowhera Shaik. After the Supreme Court cancelled her bail, the ED took her into custody on May 21, and she is currently in judicial custody, according to the agency’s account reported by Deccan Chronicle.
The latest registrations and possession proceedings show that the case has moved beyond investigation and attachment into the operational stages of property recovery. The next developments will depend on the proceedings before the special PMLA court and the legal process governing the attached and auctioned assets.
