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.
Synopsis
According to the observer’s (TS Krishnamurthy) report over 90% of the unit holders in these six schemes have voted for winding up.
Franklin Templeton Mutual Fund has got a YES nod from the unit holders to wind up the six shut schemes. The observer’s (TS Krishnamurthy) report suggests that over 90% of the unit holders in these six schemes have voted for winding up, sources suggest. The e-voting process took place from December 26-28, 2020. SEBI had appointed Taruvai Subayya Krishnamurthy, the former chief election commissioner of India as the observer for e-voting. “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 in the next hearing scheduled to be held on 25 January 2021,” Franklin Templeton Mutual Fund sta
Franklin Templeton gets unit holders nod for closure of 6 debt schemes daijiworld.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from daijiworld.com Daily Mail and Mail on Sunday newspapers.
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.