Corporate fraud investigating body SFIO has started a probe into cash-strapped retail chain Subhiksha Trading Services' financials, as part of a complaint lodged ICICI Ventures.
"The SFIO has started its inquiry..And they are doing it..", Ministry of Corporate Affairs Secretary R Bandyopadhyay told PTI here.
ICICI Ventures, one of the investors in Subhiksha, had earlier raised questions about the retailer's financials following which the Registrar of Companies prepared a report.
The SFIO will take the probe ahead.
"I can't tell on how long it (the probe) will take," Bandyopadhyay said last night.
ICICI Venture has an exposure of around Rs 106 crore in the retailer.
