NEW DELHI: The Supreme Court Monday said it would first deal with the issues related to objection to the e-voting process for winding up Franklin Templeton s six mutual fund schemes and distribution of money to the unitholders.
A bench comprising Justices S A Nazeer and Sanjiv Khanna posted the matter for hearing on February 1 after one of the lawyers, appearing in the case, referred to a recent media report and sought time to file an application placing on record certain new facts.
The bench permitted the lawyer to file application within three days and said that response to the plea be filed within three days thereafter.
The Supreme Court Monday said it would first deal with issues related to objection to the e-voting process for winding up Franklin Templeton s six mutual fund schemes and distribution of money to unitholders. A Bench comprising Justices S A Nazeer and Sanjiv Khanna posted the matter for hearing on February 1 after one of the lawyers, appearing in the case, referred to a recent media report and sought time to file an application placing on record certain new facts. The Bench permitted the lawyer to file application within three days and said that response to the plea be filed within three days thereafter.
0
While Franklin Templeton Mutual Fund (FTMF) has been rejoicing with unit-holders voting in favour of winding-up of the six debt schemes, the observer appointed to oversee the e-voting process has expressed several concerns about the entire process. The observer, Taruvai Subayya (TS) Krishnamurthy, former chief election commissioner, points to the grey areas he spotted during the e-voting process, pertaining to voting rights, voting period, and voting rules. The report also mentions that 115,000 of the total unitholders, or about 38%, have participated on an overall basis in the e-voting. .there were many grey areas in the procedure adopted, which raised doubts and apprehensions in the minds of investors. Even FTMF did not seem to have had a clear idea about the procedure to be followed. This seems to be mainly because an exercise of this type was done for the first time and there were no clear-cut guidelines in certain areas to be followed, the report says.