Quant Mutual Fund’s CFO Harshal Patel resigns amid SEBI’s front-running probe
Quant Mutual Fund has been the subject of a Securities and Exchange Board of India (SEBI) probe into possible front-running.
Quant Mutual Fund notified investors of the resignation of its Chief Financial Officer (CFO) Harshal Patel saying that he has resigned due to personal reasons. The fund company- which has been the subject of a Securities and Exchange Board of India (SEBI) probe into possible front-running- announced Shashi Kataria's appointment as CFO, effective July 1.
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Quant Mutual Fund said, “Mr Shashi Kataria has been appointed as Chief Financial Officer, Operations Head and Executive Director of Quant Money Managers Limited with effect from July 01, 2024, in place of Mr. Harshal Patel who has resigned due to his personal reasons."
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Sebi action against Quant Mutual Fund
Sebi began investigating Quant Mutual Fund in June and the fund promised to work with the regulator throughout the investigation. Sebi reportedly carried out search and seizure operations at the Hyderabad and Mumbai offices of Quant Mutual Fund.
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Quant Mutual Fund is among the fastest-growing fund firms in the country with over 80 lakh folios and more than ₹93,000 crore in assets under management (AUM).
