3 While the Association of Mutual Funds in India (AMFI) has reportedly filed a special leave petition (SLP) in the Supreme Court (SC) in the Franklin Templeton Mutual Fund (FTMF) issue, the Midas Touch Investors Association (MTIA) has asked market regulator Securities and Exchange Board of India (SEBI) to suspend for one year the registration certificate of FTMF.
In a representation addressed to Ajay Tyagi, chairman of SEBI, Virendra Jain, founder and president of MTIA, says, "You are requested to suspend their respective certificate of registrations granted by SEBI, under mutual funds regulations, to undertake activities relating to operating mutual funds in India for one year for making false, misleading, biased and deceptive statements while seeking consent of unitholders via e-voting."