Mutual fund holders cannot be equated with creditors, home buyers, says Supreme Court
SECTIONS
Last Updated: Jul 15, 2021, 12:54 PM IST
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Synopsis
The Supreme Court on Wednesday termed “unsound and incongruous,” the submissions that the mutual fund holders can be equated with the creditors or the home buyers under the relevant laws.
Agencies
The Supreme Court on Wednesday termed “unsound and incongruous,” the submissions that the mutual fund holders can be equated with the creditors or the home buyers under the relevant laws.
The observations were made by the top court in a judgement by which it held that the trustees are required to seek consent of majority unit-holders for closing mutual fund schemes after publishing notice disclosing reasons for their decision to wind up of debt schemes.
SC says unitholders consent must before winding up mutual funds
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Trustees must get unit-holders consent before winding up a scheme, rules SC
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