Mumbai Police have booked Marcellus Funding Managers CFO Pankaj Gupta for allegedly embezzling ₹1.18 crore by means of a collection of unauthorised monetary transactions. Entrusted with the corporate’s company bank cards, Gupta was accountable for overseeing all monetary operations.
As reported by NDTV Revenue, the irregularities have been uncovered throughout a routine audit earlier this 12 months. Between December 2024 and July 2025, Gupta allegedly remodeled 30 suspicious transactions, transferring firm funds to his private financial institution accounts. He reportedly admitted to the misappropriation after the difficulty was flagged to firm director Sudhanshu Nahata.
In a submit on X (previously Twitter), Marcellus stated, “We needed to replace you that, by means of our group’s vigilance and controls, Marcellus recognized and filed an FIR on September 25 in opposition to our ex-CFO for unauthorized transactions carried out by means of Marcellus’s Company Financial institution Account and Company Credit score Card. We unequivocally state that no consumer investments or funds have been concerned on this incident. Purchasers’ property and monies are distinctly maintained with regulated custodians and stay utterly separate from the corporate’s company account. Safeguarding the belief and confidence of our purchasers and stakeholders is of utmost significance to us. Marcellus stays firmly dedicated to the very best requirements of governance, transparency, and moral conduct. We’re following up with the authorities to pursue the mandatory authorized recourse.”
Gupta, who joined the agency as CFO in 2022, has almost twenty years of expertise in finance, together with management roles at IDFC Financial institution and ICICI Financial institution. He beforehand held senior finance and technique positions at main monetary establishments.
Led by Saurabh Mukherjea, Marcellus Funding Managers is a Mumbai-based agency providing portfolio administration, fairness advisory, and wealth administration companies.
