Overview

• Mumbai Police registered a case after Marcellus filed an FIR on September 25 at the MIDC police station in Mumbai.
• The alleged misuse spanned December 2024 to July 2025 through more than 30 unauthorised transactions totaling ₹1.18 crore.
• A police-quoted account says Pankaj Gupta admitted diverting company funds when confronted by director Sudhanshu Nahata.
• Founder and CEO Saurabh Mukherjea reiterated that client assets are held with regulated custodians and are separate from the corporate account.
• Media reports say Gupta signed a notarised acknowledgement of the transactions and mentioned possible self-harm, a detail not independently confirmed by police.