New Delhi, Nov 11 (UNI) The Supreme Court on Monday refused to give any relief on the bail plea filed by Nowhera Shaikh, the Managing Director of Heera Gold Exim Private Limited in a financial fraud case.
On October 18, the Supreme Court cancelled the bail granted to Nowhera Shaikh on the failure to raise 580 crores to settle the claims of investors despite repeated chances given by the Court to do so.
A Bench comprising Justice J.B. Pardiwala and Justice R. Mahadevan asked the petitioner to supply the list of those immovable properties free of all encumbrances and also those properties where some claims have been put forward.
The Court was hearing the matter related to the immovable property to get the money to pay to the investors since Shaikh failed to do that.
Justice Pardiwala said, “We want to see the money…We have to see the colour of money.”
The Judge while answering to an advocate making his claim said, that the ED has also attached the property, what will you do now.
Senior Advocate Kapil Sibal appearing for Shaikh said, “There is corporate office, we are willing that to be sold, there is no encumbrance
Sibal said, “ We are prepared to sell my corporate office for Rs 600 crore.
Different counsels are appearing for investors seeking settlement of their money.
Justice Pardiwala said, “Whoever have right over properties, prove your claim…file a suit. Get your rights crystallised. ED has attached the property.”
He said, “We need money at any cost so that investors can be paid’.
