Quant Mutual Fund recently announced the resignation of its Chief Financial Officer (CFO), Harshal Patel. The news comes at a time when the fundhouse is facing increased scrutiny by the market watchdog, SEBI, in a suspected front-running case.
Shahi Kataria will be stepping into the role following Patel's resignation, effective from July 1. The fund house cited personal reasons for Patel's departure.
“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 fund house stated.
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Shashi Kataria has over 20 years of experience in various financial segments like accounting, audits, direct and indirect taxation, financial reporting and management information systems.
He also has specialized experience in managing total expense ratio (TER), scheme-related expenses, financial accounts, consolidated financial statements, income tax scrutiny, payroll and compliance with labor laws.
He has previously worked in PPFAS Asset Management as head of accounts and taxation after over a years' stint at DSP Blackrock
The fund house also added in the note that all terms and conditions related to the scheme's offer document, SID, key information memorandum (KIM), and statement of additional information (SAI), along with any related addendums will remain unchanged.
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Last month, Quant Mutual Fund came under Sebi's radar for alleged front-running activities. The market watchdog conducted a search and seizure operations at Quant Mutual Fund's Mumbai and Hyderabad offices.
Later the fund house also issued a statement in an email, “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.”
