SFIO Probes Sahara Group Amid Investor Refund Controversy

The Serious Fraud Investigation Office (SFIO) is deeply investigating the Sahara group, focusing on why a significant number of investors have not claimed their invested money. Union Finance Minister Nirmala Sitharaman emphasized that the Supreme Court is overseeing the case, and the central government is adhering to its directives. The probe aims to clarify the situation and ensure more legitimate claimants can receive their refunds.

The Serious Fraud Investigation Office (SFIO) is conducting a comprehensive investigation into the Sahara group, Union Finance Minister Nirmala Sitharaman informed the Lok Sabha. The probe aims to uncover why a large number of investors have not come forward to claim their invested funds.

According to Sitharaman, the entire affair is under the strict supervision of the Supreme Court, with the government complying fully with the apex court's directives. Most small investors have reclaimed their money due to clear documentation.

The minister reassured that the government is diligently reporting to the Supreme Court, and three panels of retired judges are overseeing the claims. Efforts are ongoing to ensure more legitimate claimants step forward for their refunds.

(With inputs from agencies.)