Archive · 29 Sep 2025
Marcellus Files FIR Against Ex-CFO for Alleged Fund Misappropriation
Marcellus, a company that manages investments, has accused its ex-chief financial officer, Pankaj Gupta, of taking money he shouldn't have.
They say he moved about 1.18 crore rupees from the company's accounts into his own, over a period of several months.
The company noticed the issue and reported it to the authorities.
They have filed a formal complaint with the police in Mumbai.
The company has assured investors that this issue doesn't involve any of their money.
The company is cooperating with the police and taking legal action, while their regular business continues unaffected.
Marcellus Investment Managers filed a First Information Report against ex-CFO Pankaj Gupta.
The FIR alleges Gupta misappropriated Rs 1.18 crore from corporate accounts.
Saurabh Mukherjea stated client investments are unaffected due to independent custodians.
Gupta allegedly made over 30 unauthorized transfers into his personal accounts.
The case has been registered under specific sections of the Bharatiya Nyaya Sanhita.
- Who
- Marcellus Investment Managers and Pankaj Harish Gupta
- What
- Marcellus filed an FIR against its former CFO, Pankaj Gupta, for allegedly misappropriating Rs 1.18 crore from the company.
- When
- Between December 2024 and July 2025
- Where
- MIDC Police Station in Mumbai
- Why
- Gupta allegedly moved funds from the company's accounts to his personal accounts without authorization.
- Company
- Marcellus Investment Managers
- Accused
- Pankaj Harish Gupta (former CFO)
- Alleged Amount Misappropriated
- Rs 1.18 crore
- Alleged Actions
- 30+ unauthorized transfers
- Legal Action
- FIR filed under sections 316(4) and 318(4) of the Bharatiya Nyaya Sanhita