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SC says unitholders consent must before winding up mutual funds
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[Franklin Templeton] Consent of unitholders required for winding up, post publication of notice: Supreme Court
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Trustees must get unit-holders consent before winding up a scheme, rules SC
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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