A huge law battle involving entrepreneur, Dr Nowhera Shaik, is now being taken to the Supreme Court of India. Hyderabad based properties mentioned in the foreclosure case are: Property to be sold in the Hyderabad case is as follows, Axis Bank has listed the following high value properties for the case to be held on four of November 2024. This would be after the October 2024 High Court ruling.
Properties Under Investigation
The court is examining several expensive properties owned by Nowhera Shaik. These properties are located in prime areas of Hyderabad, and their combined value is substantial.
• Naina Towers: This property in Banjara Hills is worth ₹90 crores. The court is probing the sale deed’s authenticity.
• Heera Foodex Property: This property is worth over ₹120 crores found in Mehdipatnam, Bowenpally, Ranga Reddy District. Critiqued are ownership and debt status.
• Heera Retail Property: It is located in Tolichowki and covers 33,000 sq yards and is worth ₹750 crores. It’s primarily to check for third party claims.
Legal Arguments in Focus
At the hearing, opposing lawyer Dushyant Dave said the case ‘resembled a review application’ and required specific conditions before moving forward. But the court let new evidence put forward by Shaik’s legal team alter the course of the case.
J.B. Pardiwala, justice, emphasized that the properties should be unencumbered. Shaik’s lawyer, Kapil Sibal, pledged to the court that the properties were clear but requested more time to complete verifications.
Court’s Recent Decision
Then court directed that Dr Nowhera Shaik has to deposit all the relevant documents and to be handed over to the court by First november 2024. The deadline was then extended to 12 November 2024. The extension allows her legal team to finish up paperwork, and to review property details.
Implications of the Case
Here because according to the law, to the property ownership the court will decide. But there are some other things known as discretion which will decide according to what they want. That should bring more clarity, and maybe more reach, at future hearings. And the public and the legal experts get continue to watch the case on a shaky period.
