Terminated fund manager sends legal notice to Axis Mutual Fund

Viresh Joshi, ex-fund manager and chief dealer at Axis Mutual Fund, has sent a legal notice to the fund house against his ‘unlawful termination’. “We are in communication with Axis Mutual Fund on behalf of our client Mr Viresh Joshi and have duly replied to the unlawful termination notice,” said Chirag M. Shah, Counsel, Mansukhlal Hiralal & Co,

Axis Mutual Fund released a statement on May 19 which had stated that “Axis AMC has been conducting a suo moto internal investigation since February 2022, using reputed external advisors to assist with this ongoing investigation.

Further to our investigation, his conduct and following the decision to suspend him, the employment of Mr. Viresh Joshi has been terminated with effect from May 18, 2022.”