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Hyderabad: Nowhera Shaikh granted Rs 5 crore bail

Nowhera Shaikh

By M M Staff

Hyderabad: Nowhera Shiek, the managing director of Heera Gold was granted conditional bail on Wednesday by the Metropolitan Sessions court, Nampally in Hyderabad. The court has asked her to deposit an amount of Rs 5 crore as surety. The court has also placed travel restrictions and set her cooperation with the CCS as one of her bail conditions.

The Central Crime Station (CCS) division of the Telangana police had arrested Nowhera on October 16 for allegedly cheating investors in her companies.

The court on Wednesday evening turned down the custody petition and gave the order to release Ms Shaikh on bail with certain conditions.

“She was asked to be present before investigating officials from October 27 to October 31, without fail. She has to produce a surety of Rs 5 crore to the court before October 29, surrender her passport and not leave the city without the court’s permission,” said the sources.

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