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 | 17:45 IST
Earlier, Franklin Templeton Mutual Fund updated the unitholders that its six shut schemes have received Rs 14,391 crore from maturities, pre-payments and coupon payments since their closing down in April Relief for Franklin Templeton investors! SC asks to disburse Rs 9,122 crore in 20 days | Photo Credit: IANS
New Delhi: In a major relief to Frankling Templeton investors, the Supreme Court on Tuesday directed Franklin Templeton to distribute Rs 9,122 crore to unitholders of the six schemes that were shut by the mutual fund house in April.
The apex court has directed SBI Mutual Fund to carry out the exercise of disbursement. Supreme Court bench comprising of Justices Abdul Nazeer and Sanjiv Khanna have directed the fund house to distribute the money to unitholders within twenty days from February 2 (today).