The case has rattled one of the most prominent portfolio managers in Mumbai, although the company and the founder, Saurabh Mukherjea, maintain that the investments of customers remain unaffected.
According to reports, the first information report registered at Midc Politiebureau on 25 September that Gupta carried out more than 30 unauthorized transactions between December 2024 and July 2025 via the HDFC Bank Corporate Account and Corporate Credit Card from Marcellus. The complaint was submitted under sections 316 (4) and 318 (4) of the Bharatiya Nyaya Sanhita, 2023.
The FIR, according to the media reports, also stated that Gupta admitted to had abused the money to pay personal credit card defenses and other costs. It added that Gupta signed a notarial statement in which the embezzlement was recognized and at the same time warned of possible self -harm as strict action.
Marcellus -Reaction
In an official statement, Marcellus Investment Managers said: “At Marcellus investment managers, guaranteeing the trust and trust of our customers and stakeholders is of the utmost importance.
We have proactively detected and reported the incident to the authorities involved. It is sufficient to say that the case is being investigated now, and that is why we cannot comment further, but we want to reassure all stakeholders unambiguously that this incident does not affect the investments of customers or their funds. “The company added that it works completely with the police and regulators:” Marcellus remains firmly laid down in the highest standards in the administration, and ethical behavior. We are expanding our full cooperation to the relevant authorities and ensure complete compliance with the regulations, as we have always done. “
Mukherjea’s statement
The founder of Marcellus Saurabh Mukherjea also appealed to the social media case and said: “On September 25, 2025, Marcellus submitted a FIR to the Mumbai police.
This is with regard to our ex-CFO, which we believe are darkened by the company 1 crore rupees and 18 lakhs. We follow the authorities, so that action is taken against the relevant person. “
Mukherjea said that client assets were not influenced. “Customer money is not influenced by this. Customer money is stored in a separate bank account, which is with our preservators … things stay as usual with Marcellus. This does not affect your investments. We hope that the authorities will help us bring the ex-CFO to court.”
Gupta’s background
Gupta came to Marcellus as CFO in 2022 and brought almost two decades of experience in finance. He previously held senior positions at IDFC Bank and Icici Bank, who supervised strategy and financial positions.
Marcellus Investment Managers, founded by Mukherjea, is a company located in Mumbai that offers solutions for portfolio management, share advice and solutions for asset management.
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