The Telangana High Court on Thursday refused to stay or quash the non-bailable warrants issued against Heera Group MD Nowhera Shaik by the Special Court for PMLA cases. Justice E.V. Venugopal directed her to surrender while asking the Enforcement Directorate and the State Government to file their response.
During the investigation, it was revealed that Nowhera Shaik hatched a conspiracy and lured innocent people to deposit their savings with her for 'profit' sharing rather than interest, which is not allowed in Islam.
