Six debt schemes of Franklin get ₹1,147 cr - The Hindu BusinessLine thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
January 18, 2021
SC to decide on distribution of money on Jan 25
In a major relief for embattled fund house Franklin Templeton, over 90 per cent of investors have voted in favour of the closure of six suspended debt funds. Investors can now hope to receive ₹9,190 crore accumulated in five cash positive debt schemes.
The Supreme Court in its next hearing, scheduled for January 25, will decide on the process for distribution of the cash and liquidation of assets in the schemes.
A Bench headed by SA Nazeer granted three days for filing of objections to the e-voting on the winding up of the schemes. The Bench, also comprising AS Bopanna and V Ramasubramanian, was asked by the counsel for Franklin Templeton that an order be passed for allowing distribution of money to the unit-holders.