Synopsis
In a letter to the unitholders of the six shut debt mutual fund schemes, Sanjay Sapre, President, Franklin Templeton India, thanked the unitholders.
Agencies
In a letter to the unitholders of the six shut debt mutual fund schemes, Sanjay Sapre, President, Franklin Templeton India, thanked the unitholders. Sapre said that out of the total number of unitholders who cast their votes, over 96% of unitholders have voted in favour of the winding up of the six schemes.
Following are the scheme wise results:
ET Online
“We are thankful to our unitholders for voting overwhelmingly in favour of the orderly winding up in all 6 schemes. We deeply appreciate the support of our investors and partners and hope to commence distribution of investment proceeds at the earliest, subject to the directions of the Hon’ble Supreme Court. The next hearing in this matter is scheduled to take place on January 25, 2021,” Sapre said in the letter.
Franklin Templeton case: What next after investors vote for winding up 6 debt schemes
Franklin Templeton case: What next after investors vote for winding up 6 debt schemes
A majority of unitholders have voted in favour of winding up six frozen debt schemes offered by Franklin Templeton. The development seems good for investors who are now a step closer to getting back their money.
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UPDATED: January 19, 2021 13:50 IST
Overall, more than 90 per cent of the votes were cast for winding up the six schemes that were suspended in 2020. (Photo: Reuters/Representational image)
A majority of unitholders in six frozen debt schemes of the Franklin Templeton Mutual Fund have voted in favour of their closure, according to the observer’s report submitted before the Supreme Court (SC) on Monday.
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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Synopsis
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.