new delhi the serious fraud investigation office on friday requested the supreme court for an urgent hearing on its appeal against a delhi high court order stalling the probe into alleged collection of rs 50000 crore from investors by three sahara companies and the alleged involvement of six other group entities in round tripping and siphoning off public money appearing for sfio solicitor general tushar mehta requested chief justice n v ramana that even though the sc in a recent order had said that the sfio investigation was a continuous one and would spill beyond the three month stipulation under the companies act for completion of the probe the hc had erroneously relied on the same act to stall the probe into the nine sahara entities going on since november 2018 and with a deadline for completion by march 31 this year the cji said he would look into the papers and assign a date for hearing in its special leave petition against the hcs interim order of december 13 the sfio said the registrar of companies had received a large number of complaints from investors about nonpayment of their investment proceeds even after maturity roc mumbai inquired into the complaints and in a report of august 14 2018 had recommended to the union government to initiate investigations into affairs of sahara q shop unique products range ltd sahara q gold mart ltd and sahara housing investment corporation on october 31 2018 the ministry of corporate affairs had assigned the probe to sfio which during the investigations found that sahara india commercial corporation ltd sahara india financial corporation ltd and sahara india real estate corporation ltd had collected rs 14100 crore rs 17500 crore and rs 19400 crore from public under the guise of different schemes promising higher returns to investorsbut investors were not paid the maturity amount and were forced to convert their deposits into then prevailing schemes of other group entitiescompanies it said and alleged that apart from these six three other group companies aamby valley ltd qing aamby city developers corporation ltd and sahara prime city ltd were also involved in the fraudsfio said all the nine companies were intertwined and the investigations revealed huge intercompany investmentsadvances on october 27 2020 the six other companies found involved in the alleged fraud were also placed under sfio probe by the ministry of corporate affairssfio said there are huge funds movement to and from these nine companies from and to the promotersdirectors and to other entities of sahara group which is suspected to be siphoning offdiversion of public money it said the hc erroneously stayed the operation of the two orders october 31 2018 and october 27 2020 for sfio probe against the nine sahara group companies on the erroneous application of section 2123 of the companies act which mandated completion of the probe within three months sfio cited the supreme courts 2019 judgment in the rahul modi case to counter the hcs interim restraint