Quant Mutual Fund is facing a Securities and Exchange Board of India (SEBI) probe into possible front-running,but they are clarifying recent actions.
SEBI data collection: There were reports of SEBI collecting data from Quant Mutual Fund. The fund house says this data collection was not a regular process, but rather part of a court-approved search-and-seizure operation connected to the front-running investigation.
CFO Resignation: Earlier reports suggested the CFO resigned because of the SEBI probe. Quant Mutual Fund clarified that their CFO, Harshal Patel, resigned in February 2024, well before the investigation began in June 2024. Shashi Kataria is the new CFO appointed in July 2024.
