No adverse findings against Franklin Templeton, its employees so far: Sanjay 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.
SEBI probing if Franklin exceeded borrowing limits
March 11, 2021
Close-up Of Businessperson Hands Checking Invoice With Magnifying Glass At Desk - Getty Images/iStockphoto×
To meet redemptions in 6 debt schemes
SEBI is investigating if Franklin Templeton Mutual Fund (FTMF) borrowed far beyond what it was permitted and how it managed to subsequently get a ‘special permission’ to enhance its borrowing limit, mainly to meet the redemptions in the six debt schemes that were shut in April 2020.
This has been revealed in investor complaints to the Finance Ministry, the Central Vigilance Commission (CVC) and SEBI’s vigilance department highlighting that FTMF got special permission to hike the borrowing of the debt schemes from 30 per cent to 40 per cent just one day before it announced the controversial decision to shut them. The complaints have drawn data from FTMF’s own disclosures to the court including SEBI’s special permission.
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.
After a wait of more than 10 months, investors in five of the six shuttered debt schemes of Franklin Templeton Mutual Fund received a portion of their money on Tuesday, which was lying as cash in these schemes.
Franklin Templeton to begin repayment of dues newindianexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newindianexpress.com Daily Mail and Mail on Sunday newspapers.