Maulik Madhu
BL Research Bureau |
Updated on
February 05, 2021
×
The AMC should distribute ₹9,122 crore to affected investors. But investors in Franklin India Income Opportunities Fund will not receive any part of this amount.
Following the sudden closure of six debt mutual fund schemes by Franklin Templeton Mutual Fund on April 23, 2020, all redemptions from the scheme were halted. Investors were left wondering when their money invested in these schemes would be returned.
On February 2, the Supreme Court directed Franklin Templeton MF to distribute ₹9,122 crore to the unitholders of the wound up schemes within 20 days. With this, the affected investors are for the first time, set to receive a part of their money blocked in these schemes since April 2020. SBI MF will handle the disbursement.
SC orders disbursal of Rs 9K cr to unitholders of Franklin Templeton s 6 MF schemes PTI
Updated Feb 3, 2021, 8:54 am IST
The bench granted liberty to the litigating parties to approach the court in case of any difficulty in the disbursal of money
Franklin Templeton Investments Logo (Wikipedia)
New Delhi: The Supreme Court Tuesday ordered that Rs 9,122 crore be disbursed within three weeks to the unitholders of Franklin Templeton s six mutual fund schemes which are proposed to be wound up.
A bench of Justices S A Nazeer and Sanjiv Khanna said that the disbursal of money would be done in proportion to unitholders interest in the assets.
Franklin Templeton To Pay 9,122 Crores To Investors In 20 Days: Top Court If there was any difficulty in the process, parties can approach the Supreme Court, the judges said.
Updated: February 02, 2021 8:03 pm IST
The money will be distributed to the unit holders in proportion to their interest in the assets (File)
New Delhi:
The Supreme Court today ordered the payment of Rs 9,122 crore within 20 days to investors of six Franklin Templeton Mutual Fund Schemes shut down last year during the coronavirus lockdown. This money is cash-ready with Franklin Templeton, said the Supreme Court, directing SBI Mutual Funds, as the intermediaries, to distribute the amount among unit holders of the US-based company.
SC orders Franklin Templeton to pay Rs 9,122 crore to 6 debt schemes unitholders
The Supreme Court has entrusted State Bank of India Mutual Fund (SBI MF) to oversee distribution of funds to unitholders of six shut debt schemes
BusinessToday.In | February 2, 2021 | Updated 21:25 IST
Franklin Templeton to distribute funds within in 20 days
In a major relief to unitholders of six debt schemes of Franklin Templeton Mutual Fund, the Supreme Court on Tuesday asked the company to return Rs 9,122 crore to investors within 20 days from cash-positive schemes. As per the court order, the disbursal of fund would be done in proportion to unitholders interest in the assets.
Updated Feb 02, 2021 | 16:16 IST
SEBI has proposed proportionate distribution of Rs 9,000 cr with unitholders respective interests. The regulator told Supreme Court that mutual funds don t make any distinction between large, small investors Franklin Templeton Case: SEBI proposes distribution of Rs 9,000 crore
New Delhi: The Supreme Court on Tuesday asked market regulator SEBI to reply on modalities of distribution of funds in Franklin Templeton. The regulator has been asked to state if the company s funds are to be distributed in one go/in a staggered way and to clarify if larger holdings can be given later & what timeline to follow.
SEBI has proposed proportionate distribution of Rs 9,000 crore with unitholders respective interests. The regulator told Supreme Court that mutual funds don t make any distinction between large, small investors. SEBI did not put any timeline for fund distribution. However, it indicated that it will 12 to 18 months. The