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Shashi Kataria appointed Quant MF CFO after Harshal Patel's resignation

Upstox
By Upstox News Desk

2 min read | Updated on July 12, 2024, 18:18 IST

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SUMMARY

Shashi Kataria, an industry veteran, has taken over as the chief financial officer of Quant MF with effect from July 10. His predecessor Harshal Patel had left the organisation on May 19.

Major mutual fund schemes that have a higher allocation in railway stocks

Major mutual fund schemes that have a higher allocation in railway stocks

Harshal Patel, the former chief financial officer (CFO) of Quant Mutual Fund, departed from the organisation on May 19, the fund house confirmed in a statement issued on Friday, July 12.

Although the statement came amid the row over SEBI's inquiries into a suspected front-running case, Quant MF clarified that Patel had submitted his resignation months before the inquiries were initiated.

The date of resignation was February 19, and Patel's last date of association with the company was May 19, the fund house said.

Patel has been replaced with Shashi Kataria, an industry veteran, who joined the organisation on June 10, Quant MF said. Kataria's appointment came into effect from July 1, it added.

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“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," the Economic Times quoted Quant MF as saying.

Quant MF, founded by Sandeep Tandon, is one of the leading fund houses in the country. The total assets under its management adds up to around ₹90,000 crore.

Also Read: SEBI paper seeks mandatory disclosure of 'risk-adjusted return' by mutual funds

Suspected front-running case

SEBI, according to reports, has launched a probe into the suspected front-running based on confidential information allegedly leaked from Quant MF. The suspicious transactions were flagged through the market regulator's surveillance system, Business Standard had reported.

However, the developments are yet to be verified. According to the Association of Mutual Funds in India (AMFI), the updated information regarding the case is yet to be officially received.

SEBI has not shared details after conducting searches and seizures last month, AMFI CEO Venkat Nageswar Chalasani was reported as saying by Business Today on July 9.

Quant MF, in a statement issued on June 24, confirmed that it was cooperating with SEBI. “We want to assure you that Quant Mutual Fund is a regulated entity, and we are always fully committed to cooperate with the regulator throughout any review. We will provide all necessary support and continue to furnish data to SEBI on a regular and as-needed basis," it had stated.

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Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

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