Saurabh Mukherjea-owned Marcellus suspends employee for violation of code of conduct

Marcellus is a Saurabh Mukherjea-led Portfolio Management Service (PMS) and advisory firm founded in 2018.

Saurabh Mukherjea-owned Marcellus has suspended an employee, pending investigation, for violation of code of conduct and appointed one of the 'big four' companies to forensically investigate the issues, the PMS firm said in a e-mail communication to its investors.

On Monday afternoon, investors with Marcellus Investment Managers received an email communication informing them of a potential action being taken against a junior employee. According to the mail, the company has said that they were informed of a “potential violation of Marcellus’ code of conduct” by one of their employees. Further, the company has suspended the employee and is in the process of conducting a full investigation for which they have engaged the services of a “big four firm”.

The communication further added that the incident would have no bearing on investments with the firm and that they would provide an update as and when available.

Moneycontrol has reached out to Marcellus for a statement and will update this story as and when available.

Marcellus is a Saurabh Mukherjea-led Portfolio Management Service (PMS) and advisory firm founded in 2018. In October 2020, Mukherjea settled an insider information violation case with SEBI by paying a fine of Rs 1.37 crore. SEBI had alleged that had alleged that Mukherjea did not "maintain the confidentiality of price sensitive information about Manappuram Finance." At the time of the violation, Mukherjea was an employee with Ambit Capital.