Franklin Templeton says it has no plans to exit India
In a letter issued on Friday, Franklin Templeton President Sanjay Sapre said the fund house had the greatest regard for and absolute trust in SEBI
Franklin Templeton had shut six debt mutual fund schemes on April 23 last year, citing redemption pressures and lack of liquidity in the bond market
Franklin Templeton s President Sanjay Sapre has said that the fund house has no plans to exit its India business.
Some media reports had earlier indicated that Franklin Templeton had requested discussions with the Indian Ambassador to the US over the SEBI (Securities and Exchange Board of India) probe into six of its shut debt schemes.
6 Franklin Templeton schemes under winding up process turn cash positive businesstoday.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstoday.in Daily Mail and Mail on Sunday newspapers.
Franklin Templeton Mutual Fund on Friday said its commitment to India remains steadfast and the fund house has no plans to exit its operations in the country. This comes following media reports suggesting intervention by the fund house s US-headquartered parent seeking the diplomatic route for a just and fair hearing by market regulator Sebi in the investigation pertaining to six wound-up debt schemes. According to the reports, Franklin Templeton had threatened to exit India if it was not given a fair hearing. In a letter to investors Franklin Templeton Asset Management (India) Pvt Ltd President Sanjay Sapre said, we have no plans to exit our India business. Any speculation suggesting otherwise, or any rumours around sale of business in India are incorrect and simply that-rumours .
No plans to exit India biz: Franklin Templeton s Sanjay Sapre
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Last Updated: Apr 02, 2021, 05:57 PM IST
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Franklin Templeton Mutual Fund on Friday said its commitment to India remains steadfast and the fund house has no plans to exit its operations in the country.
Franklin Templeton Mutual Fund on Friday said its commitment to India remains steadfast and the fund house has no plans to exit its operations in the country.
This comes following media reports suggesting intervention by the fund house s US-headquartered parent seeking the diplomatic route for a just and fair hearing by market regulator Sebi in the investigation pertaining to six wound-up debt schemes.
No plans to exit India biz: Franklin Templeton s Sajay Sapre 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.