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Franklin Templeton allays investors fears after new debt fund ban

Franklin Templeton Moves To Calm Investors After New Debt Fund Ban

SEBI observer flags discrepancies in voting on Franklin Templeton debt funds closure

SEBI observer flags discrepancies in voting on Franklin Templeton debt funds closure January 20, 2021 × There were significant variations in e-voting process followed by FTMF vis-à-vis that prescribed under the Companies Act TS Krishnamurthy, the SEBI-appointed observer to monitor the e-voting conducted by Franklin Templeton Mutual Fund (FTMF) with regard to the closure of six debt schemes, has highlighted a number of ‘discrepancies’ in his report submitted to the Supreme Court. FTMF had recently declared that 96 per cent its unit-holders had voted for the voluntary closure of the schemes, which together held over ₹26,000 crore. Krishnamurthy, who was India’s 13th Chief Election Commissioner, told the apex court: “There were significant variations in the e-voting process followed by FTMF vis-à-vis prescribed under the Companies Act.” Since the SEBI (MF) Regulations, 1996 did not contain specific rules on ‘e-voting or conduct of meeting of unit-holders’, the C

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