Franklin Templeton MF: SC Reserves Order after Completing 1st Phase; Next Hearing in July moneylife.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneylife.in Daily Mail and Mail on Sunday newspapers.
ED Probes Franklin Templeton, Its Officials for Money Laundering
IANS
2
The enforcement directorate (ED) has registered a case of money laundering against Franklin Templeton and its senior officials.
A senior ED official related to the probe told IANS, We have registered a case of money laundering against Franklin Templeton and its senior officials.
The official said the agency registered the case on the basis of an FIR (first information report) lodged by the economic offences wing (EOW) of the Chennai police.
Notably, the EOW of the Chennai police had registered an FIR against the beleaguered Franklin Templeton Asset Management India Pvt Ltd and Franklin Templeton Trustee Services Pvt Ltd for hatching a criminal conspiracy to defraud three lakh investors by causing wrongful loss to them and unlawful gain to themselves by committing various offences under the IPC (Indian Penal Code).
While the sudden closure of six debt schemes by Franklin Templeton Mutual Fund (FTMF) has come as a shocker for its investors, an analysis of the final forensic audit report by a news portal reveals interference in risk management, liquidity issues, deficient investment policy, use of inter scheme transfers (ISTs) for managing the liquidity, neglect towards early warning, and miscalculation of Macaulay duration of portfolios among others.
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.
The Supreme Court on Friday upheld the validity and results of e-voting of unit holders of six mutual schemes of Franklin Templeton and said Rs 9,122 crore will be disbursed as per its earlier order.