Franklin Templeton complies with conditions prescribed in SAT order
By
IANS
|
3 Views
Franklin Templeton Mutual Fund.. Image Source: IANS News
New Delhi, July 18 : Franklin Templeton Asset Management (India) has said that it has complied with the conditions prescribed by the Securities Appellate Tribunal (SAT) in its order pertaining to the restrictions imposed by SEBI on the fund house.
On June 28, SAT had stayed SEBI's decision to bar Franklin Templeton India from launching new debt schemes for two years.
In a letter to investors, Sanjay Sapre, the President, Franklin Templeton Asset Management (India) Pvt. Ltd. said: "The restriction on launching any new debt schemes for a period of two years shall remain stayed during the pendency of the appeal. We have complied with the conditions prescribed in the SAT order and the matter is listed on August 30, 2021, for further hearing."