Saurabh Mukherjea-led Marcellus Funding Managers filed FIR in opposition to ex-CFO. This is why

Marcellus Funding Managers has filed a police criticism in opposition to its former Chief Monetary Officer, Pankaj Harish Gupta, accusing him of diverting Rs 1.18 crore from the agency’s company accounts for private use.

The case has rattled certainly one of Mumbai’s most distinguished portfolio managers, although the corporate and its founder, Saurabh Mukherjea, insist shopper investments stay unaffected.

In response to experiences, the First Data Report registered at MIDC Police Station on September 25 alleged that Gupta executed greater than 30 unauthorised transactions between December 2024 and July 2025 by way of Marcellus’s HDFC Financial institution company account and company bank card. The criticism was lodged underneath Sections 316(4) and 318(4) of the Bharatiya Nyaya Sanhita, 2023.

The FIR, in response to media experiences, additional acknowledged that Gupta admitted to misusing the cash to pay private bank card payments and different bills. It added that Gupta signed a notarised declaration acknowledging the misappropriation whereas additionally warning of doable self-harm if strict motion was pursued.

Marcellus response

In an official assertion, Marcellus Funding Managers mentioned: “At Marcellus Funding Managers, safeguarding the belief and confidence of our purchasers and stakeholders is of utmost significance.

We detected and reported the incident proactively to the involved authorities. Suffice to say, the matter is underneath investigation now, and therefore we can not remark additional, however we need to unequivocally reassure all stakeholders that this incident has no affect on shopper investments or their funds.”The agency added that it’s cooperating absolutely with the police and regulators: “Marcellus stays firmly dedicated to the best requirements of governance, transparency, and moral conduct. We’re extending our full cooperation to the related authorities and shall guarantee full regulatory compliance, as we all the time have.”

Mukherjea’s assertion

Marcellus founder Saurabh Mukherjea additionally addressed the matter on social media and mentioned, “On twenty fifth September 2025, Marcellus filed an FIR with the Mumbai Police.

That is with respect to our ex-CFO, who we consider has misappropriated from the agency 1 crore rupees and 18 lakhs. We’re following up with the authorities in order that motion is taken in opposition to the related particular person.”

Mukherjea mentioned that shopper property had been unaffected. “Shopper cash will not be affected by this. Shopper cash is saved in a separate checking account, which is with our custodians… Enterprise continues as regular at Marcellus. Your investments are unaffected by this. We hope that the authorities will assist us deliver the ex-CFO to justice.”

Gupta’s background

Gupta joined Marcellus in 2022 as CFO, bringing practically 20 years of expertise in finance. He beforehand held senior roles at IDFC Financial institution and ICICI Financial institution, overseeing technique and finance capabilities.

Based by Mukherjea, Marcellus Funding Managers is a Mumbai-based agency that gives portfolio administration companies, fairness advisory, and wealth administration options.

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