The Serious Fraud Investigation Office (SFIO) is carrying out a detailed probe into the matter related to the Sahara group companies and further action will be taken after its report, Union Finance Minister Nirmala Sitharaman said in the Lok Sabha on Monday.

To a query on why all investors of the Sahara group companies have not come forward to claim refunds, Sitharaman said the entire affairs of the Sahara group are being monitored by the Supreme Court and the government is acting as per the directives of the apex court.

"It is true that only small investors have come forward to claim the refunds. The SFIO is investigating the entire matter. It is also looking into why all the investors have not come forward to claim the refunds and where are they," she said during Question Hour.

The minister said after the detailed analysis of the SFIO the whole picture will be cleared and action could be taken.

She said there were 3.7 crore investors in the Sahara group companies and so far 19,650 people came forward to claim the refunds. Of these claims, 17,250 claims were settled while rest of the applicants were told to provide more papers so that their claims can be settled, she said.

Sitharaman said the central government cannot do anything on the matters of Sahara group of companies even if it wants to do as everything is monitored by the Supreme Court.

"We are constantly reporting to the Supreme Court," she said.

According to the data provided by the Finance Ministry to Parliament in December 2023, probes into the affairs of three Sahara group companies were handed over to the SFIO on October 31, 2018.

The companies are Sahara Housing Investment Corporation Ltd, Sahara Q Shop Unique Products Range Ltd, and Sahara Q Gold Mart Ltd.

Further, investigations were ordered against six other group companies on October 27, 2020.