The corporate affairs ministry on Thursday decided to order a probe into the affairs of Saradha group companies, amid a growing controversy over alleged defrauding of investors by the Kolkata-based entity.

The decision to conduct a probe followed a meeting held this morning by the corporate affairs minister Sachin Pilot with the senior officials from the ministry, sources said.

Besides Saradha group, the meeting also deliberated on steps required to check suspected fraudulent activities of other chit fund companies, they said, while adding that a formal announcement of the probe would be made soon.

The alleged scam at Saradha group is said to have defrauded thousands of investors, including poor people, in West Bengal, while its chief Sudipta Sen has been brought to Kolkata after being arrested in Kashmir valley two days ago.

In the past, the ministry had received complaints of alleged ponzi schemes at 73 companies of about a dozen different groups operating in West Bengal. These complaints, which include those against Saradha group entities, had been referred to concerned agencies and departments by the ministry.

Market regulator Sebi is also probing the fund-raising activities of Kolkata-based Saradha group. Besides, the income tax department would also investigate investments and finances of Saradha group. It is already probing five other similar cases in West Bengal.