Quant: The company is going through bad days, the company's CFO resigned after the SEBI probe

Quant Mutual Fund has become a favorite choice for many investors in the stock market, delivering an impressive return of 495 percent over the last five years. Despite its strong performance, the company faces several challenges following regulatory action by SEBI. Recent developments include the resignation of their former CFO, Harshal Patel and the appointment of a new Chief Financial Officer, Shashi Kataria. The change is believed to be related to SEBI's probe into allegations of precedent-setting. However, the company has denied these things. Shashi Khataria to be new CFO In a statement issued on Friday, the quant mutual fund house announced the appointment of Shashi Khataria as its new CFO. Harshal Patel has resigned due to personal reasons, the company said. Prior to joining Quant Mutual Fund as CEO, Kataria held the positions of CFO, CEO and Director at PPFAS Mutual Fund. He also has experience as a fund manager at DSP BlackRock Investment Managers. Also Read: Market regulator SEBI probes how long it takes to withdraw money from quant mutual funds The company also assured to cooperate closely with SEBI during the investigation. SEBI recently raided the Hyderabad and Mumbai offices of Quant Mutual Fund, during which SEBI officials seized several digital devices, including several computers. The market regulator is investigating whether a dealer or brokerage firm of Quantin's unit may have engaged in front-running while placing orders for the asset management firm. Such incidents often raise investor anxiety. Also Read: Mutual fund accused of irregularities, returns up to 74% in one year