Karnataka High Court has put all the cases related to closure of Franklin Templeton MF on fast track i.e. the court will hear all the cases within three months.
The court will hear cases related to the wound up of schemes twice a week including Saturdays.
In addition, the high court has asked Franklin Templeton Mutual Fund and SEBI to respond to all the allegations and queries of the petitioners within 15 days. Further, the court has asked petitioners to file rejoinder i.e. questions (if any) on the responses within 7 days.
Meanwhile, the Karnataka High Court has asked registrar to include case related to closure of Franklin Templeton MF’s pending with the Chennai High Court.
In June, the Supreme Court has transferred all pending cases related to closure of six schemes of Franklin Templeton Mutual Fund to the High Court of Karnataka.
