The Serious Fraud Investigation Office, SFIO has launched an investigation into alleged fund diversion and financial irregularities at long-grounded Kingfisher Airlines of businessman Vijay Mallya. In a written reply in the Rajya Sabha, Finance and Corporate Affairs Minister Arun Jaitley today said SFIO probe is currently under progress and it is looking at alleged diversion of funds and financial reporting frauds.<br/><br/> Giving details of the probes being done by the agency, Mr Jaitly said, the SFIO probe has been ordered for alleged fraud against 196 companies during last three years. He said the SFIO probe was ordered with respect to 42 companies in the current financial year till December. <br/><br/> He said the SFIO was asked to probe the affairs of 83 companies in 2013-14 and the number stood at 71 in 2014-15. Mr. Jaitley said these cases involve allegations of fraud through running of schemes by companies for collecting money from the public, siphoning off and diversion of funds by the promoter and manipulation of books of accounts and other records. On a query related to start-ups, the Minister said there is no estimate of investment in such entities.