SEBI conducts search and seizure operations on Sandeep Tandon’s Quant Mutual Fund amid front-running suspicions

By Aditya Bhagchandani Published on June 23, 2024, 23:11 IST

The market regulator SEBI has conducted search and seizure operations on Sandeep Tandon-owned Quant Mutual Fund on suspicion of front-running, sources stated.

The search and seizure operations were conducted at two locations – Mumbai and Hyderabad.

Last week, Quant dealers and individuals associated with the case were also questioned.

Quant Mutual Fund was founded by Sandeep Tandon. The fund received its mutual fund license from the Securities and Exchange Board of India (SEBI) in 2017. It has been the fastest-growing mutual fund in the country, with assets increasing from approximately Rs 100 crore in 2019 to over Rs 90,000 crore currently. It surpassed Rs 50,000 crore in assets in January this year, with a portfolio of 26 schemes and 54 lakh folios.

Aditya Bhagchandani

Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.