Read more about Franklin Templeton gets investors nod for winding up six schemes on Business Standard. The fund house could take second vote for appointing a liquidator
Supreme Court to decide on distribution of money to Templeton unitholders after hearing objections to e-voting
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Supreme Court to decide on distribution of money to Templeton unitholders after hearing objections to e-votingPTI
Last Updated: Jan 18, 2021, 07:58 PM IST
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The apex court is hearing an appeal filed by Franklin Templeton against the High Court s order which stopped the fund house from winding up its debt fund schemes without prior consent of the investors.
NEW DELHI: The Supreme Court Monday said it would decide on distribution of money to Franklin Templeton unitholders after hearing the submissions objecting to the e-voting process for winding up the mutual fund s six schemes. A bench headed by S A Nazeer granted three days for filing of objections to the e-voting on winding up of six mutual fund schemes of the company.
Majority unitholders of Franklin Templeton Mutual Fund (FTMF) have voted in favour of winding-up of the six debt schemes, according to a report submitted by the observer appointed to oversee the e-voting process say reports.
Franklin Templeton case: Unitholders vote in favour of winding up of six debt schemes
The Supreme Court to hear the matter on January 25, 2021, to give directions on how the funds should be paid back to the unitholders at the earliest January 19, 2021 / 07:20 AM IST
The verdict is in. Unitholders of the six schemes in Franklin Templeton Mutual Fund (FT MF) have voted in favour of winding up the six debt schemes, showed the observers’ report submitted before the Supreme Court (SC), which was disclosed on January 18, 2021.
According to people in the know, more than 90 percent of the votes cast for the six schemes were in favour of the wind-up. The SC will next meet on January 25, 2021, to give directions on how the funds in the schemes should be paid back to the unitholders.
Franklin Templeton gets unitholders nod to wind up six debt schemes
Over 90 per cent of the unitholders voted for winding up of six debt schemes of Franklin Templeton Mutual Fund for which electronic voting took place between December 26-28, 2020
BusinessToday.In | January 18, 2021 | Updated 20:06 IST
Franklin Templeton Mutual Fund gets unitholders nod for winding up of six debt schemes
Franklin Templeton Mutual Fund has received consent of unitholders for winding up of its six debt schemes, as per the observers report submitted before the Supreme Court. The report, which was disclosed on January 18, 2021, reportedly suggest than more than 90 per cent of the unitholders in these six schemes have voted for winding up.