In a letter to investors, Franklin Templeton MF President Sanjay Sapre has updated them on the winding up process of six debt income schemes
Fund house had appealed to apex court to hear plea to vacate stay on wind-up voting
Franklin Templeton had filed a petition in the Supreme Court challenging the stay granted by Gujarat High Court on the e-voting process
The SGX Nifty is indicating an open at around 10,030 levels for the Nifty amid mixed global cues
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Recently, the Securities and Exchange Board of India (Sebi) has ordered an audit of the six schemes under wind-up by FT MF.
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The SGX Nifty is up around 170 points from yesterday's close and is indicating an open at around 9,980 levels for the Nifty today
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Franklin Templeton MF -- which had exposure to the debt papers of the company -- in six of its schemes (that have been wound-up) also received the payments
Creation of segregated portfolios is a mechanism to separate distressed, illiquid, and hard-to-value assets from other more liquid assets in a portfolio
Franklin Templeton MF, which had exposure to the debt papers of the company in six of its schemes (that are being wound up), also received payment.
The petitioner withdrew the case after FT MF counsels informed that they would be filing a special leave petition challenging the Gujarat High Court judgment
Fund house confirms the e-voting process to remain suspended till further notice
The unitholders' meet that was to be held on June 12 has also been deferred
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The e-voting window was scheduled to open on June 9 and close on June 11 and the unit holders' meeting through video conferencing was to be held on June 12
Trustees advise unitholders to vote 'Yes' to avoid delay in wind-up process
Unit holders will vote to moneitse the scheme assets.
Schemes among the six wound up by the fund house had given the loan crore against non-convertible debentures (NCDs) to the firm in March 2019, according to ED's chargesheet