MF News Supreme Court to hear Franklin Templeton MF’s ‘scheme winding up’ case on Friday

Supreme Court to hear Franklin Templeton MF’s ‘scheme winding up’ case on Friday

A group of investors have filed a writ petition to challenge the fund house’s decision to wind up six debt funds.

Team Cafemutual Jun 10, 2020

Investors of Franklin Templeton Mutual Fund have approached the Apex Court to challenge the fund house’s decision to wind up six debt schemes.

A group of seven investors have filed a writ petition against the fund house on June 08, 2020. The Supreme Court has is expected to hold its first hearing on June 12, 2020 i.e. Friday.

This is the fourth case against the fund house against FT’s decision with the other cases being in the Gujarat High Court, Delhi High Court and Madras High Court.

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2 Comments

Investor · 4 years ago `

Time to make Fund Managers LIABLE for fraudulent deals and undertaking like Bankers...

After all it is depositors money they are trading with....

Need for personal assets to be attached incase of frauds...

Personally lost money in Nippon MF due to write off by RBI...

C K Vanitha · 4 years ago `

As there is no precedence for Templeton's case,SEBI should refer to the overseas countries and act appropriately to gain investors confidence. Further should go stringent in monitoring AMCs to avoid the recurrence.Advisors too should diversify their assets across AMCs.

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