SEBI Turned A Blind Eye To Franklin Templeton s Violations: Unit Holder Argues In Supreme Court livelaw.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from livelaw.in Daily Mail and Mail on Sunday newspapers.
Unitholders Gave Consent To Windup Six Schemes Of Franklin Templeton: Top Court Franklin Templeton Mutual Fund had closed six debt mutual fund schemes on April 23 last year citing redemption pressure and lack of liquidity in the bond market.
Updated: February 13, 2021 2:39 pm IST
Till November 27, 2020 the six schemes received total cash flows of Rs 11,576 crore from maturities
The Supreme Court Friday rejected the objections to the result of e-voting process and held that unitholders have given their consent by majority to windup six mutual fund schemes of Franklin Templeton. The Supreme court, which said that winding up and disbursement of funds to unitholders would be in terms of its directions passed in the matter, directed that disbursement can be made in tranches without waiting for liquidation of all the securities or assets. The e-voting with regard to winding up of Franklin Templeton s six mutual fund schemes Franklin India Low Duration Fund, Franklin India Ultra
In relief to unit holders of the shut schemes of Franklin Templeton India, SBI Funds Management Pvt Ltd will distribute the available cash of Rs 9,122 crore in the funds, as of January 15, among them in the coming week.
Supreme Court Upholds Validity Of E-Voting Process For Winding Up Of Franklin Templeton s Six Mutual Fund Schemes livelaw.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from livelaw.in Daily Mail and Mail on Sunday newspapers.
The Franklin India Ultra Short Bond Fund had available cash of Rs 5,075.39 as of January 15 and Franklin India Low Duration Fund, Short Term Income Fund, Credit Risk Fund and Dynamic Accrual Fund had cash of Rs 1,625.36 crore, Rs 469.24 crore, Rs 926.15 crore and Rs 1,025.45 crore, totalling Rs 9,121.59 crore, as per the letter by Franklin Templeton Asset Management (India) Pvt Ltd s President, Sanjay Sapre to the investors.