India, March 5 -- The Supreme Court on Wednesday served an ultimatum to gold scam accused Nowhera Shaik to refund within three months a portion of the money collected from investors or face jail, directing the Enforcement Directorate to take her into custody if Rs.25 crore is not deposited with the agency on the expiry of the 90-day period.

The bench noted that Shaik was defiant to the successive orders by the court since November 11, 2024, when the time for surrender was extended, subject to her paying up Rs.25 crore. Shaik, the managing director of Heera Gold Exim Private Ltd, is accused of defrauding lakhs of investors of Rs.5600 crore and is facing FIRs in several states.

"We propose as a last opportunity to the accused that an amou...