Supreme Court of India has listed a very important application related to the businesswoman Nowhera Shaik and her properties on 4th November 2024. This hearing was following the other case she had with the High Court which was determined in October 2024. The case received attention due to an enormous amount of Shaik’s fixed assets, which are situated in Hyderabad and its surroundings. The bench consisted of J.B. Pardiwala and Manoj Misra, and senior advocate Kapil Sibal appeared for Dr Nowhera Shaik.
Background of the Case
Supreme Court of India has listed a very important application related to the businesswoman Nowhera Shaik and her properties on 4th November 2024. This hearing was following the other case she had with the High Court which was determined in October 2024. The case received attention due to an enormous amount of Shaik’s fixed assets, which are situated in Hyderabad and its surroundings. The bench consisted of J.B. Pardiwala and Manoj Misra, and senior advocate Kapil Sibal appeared for Shaik.
The Three Major Properties
1. Naina Towers: Primarily situated at Banjara Hill in Hyderabad this property is appreciated over the amount of ₹ 90 crores. The original sale deed regarding the property is in the hand of Shaik and the court was to find out it is not involved in any legal proceedings.
2. Heera Foodex Property: This land, situated in Mehdipatnam, Bowenpally, Ranga Reddy District, Telangana is valued more than ₹120 crore. The bill of sale for this micro-finance asset is also in Shaik’s name, and where there are any charges, the court will establish them.
3. Heera Retail Property: This piece of land lies at Tolichowki, Hyderabad; the piece of land is about 33,000 square yards and is estimated at ₹750 crore. Shaik says he fully owns the property but the court has to establish if it has any encumbrances that belong to third parties.
Objections and Challenges
At the hearing, senior counsel Dushyant Dave on behalf of the intervening parties were able to argue against it as they explained that it resembled a review application, which ought not to be processed unless other conditions have been fulfilled. However, this court held that there is a new proposal which brings new component, thus, Shaik’s legal team was allowed to submit new evidence relating the positions of her properties.
The Court’s Inquiry
Justice Pardiwala added that this disclosure shall have a checking and verification system to ensure that all listed properties are free of legal charges like outstanding debts or claims by third parties. Shaik’s counsel, advocate Kapil Sibal submitted that the properties were ‘free of encumbrances’ but sought more time to confirm this.
Extension for Surrender
However, some of the major developments in the case are the period granted in the matter of Shaik’s surrender. At first, she was confronted with an order pronounced by her to surrender November 4th, 2024 that the court extended to November 12th 2024. This extension was sought in order to complete likelihood on the properties and for Shaik to submit the legal papers pledged by him.
Conclusion
This Supreme Court hearing is very important to alter the basic law for Nowhera Shaik’s valuable assets. The case will drag further as the court scrutinises on the ownership and encumbrance of the mentioned properties. The next hearing is expected to bring some more light to the case and may bring more legal changes to it.
