Quant Mutual Fund CFO resigns amid Sebi’s front-running investigationReport

Quant Mutual Fund, presently dealing with a Sebi examination for a presumed front-running case, has actually revealed the resignation of its Chief Financial Officer (CFO) Harshal Patel, reported The Economic Times.

Mr. Shashi Kataria has actually been selected as Chief Financial Officer, Operations Head, and Executive Director of Quant Money Managers Limited with result from July 01, 2024, changing Mr. Harshal Patel who has actually resigned due to individual factors,” Quant Mutual Fund stated in a declaration.

The fund home notified unitholders through a notice-cum-addendum that Harshal Patel’s resignation worked on July 1.

Shashi Kataria, who formerly dealt with PPFAS AMC as CFO, COO, and Director, and was likewise connected with DSP Blackrock Investment Managers as Manager Finance, has actually been designated in Patel’s location.

The fund home specified that all other terms of the Scheme Information Document (SID), Key Information Memorandum (KIM), and Statement of Additional Information (SAI) of the plans stay the same.

This notice-cum-addendum types an important part of the SID, KIM, and SAI provided for the plans, checked out with addenda provided afterwards.

The Sebi examination into Quant Mutual Fund includes thought front-running activities in the Rs 93,000 crore fund.

Sebi’ s searches at Quant’ s Mumbai head office and Hyderabad properties caused the seizure of smart phones, computer systems, and other digital gadgets to trace the source of dripped secret information presumably utilized for illegal earnings.

The marketplace regulator presumes the participation of either a dealership from a Quant entity or a broking company through which the property management business positions orders.