The Supreme Court has asked SEBI to appoint an observer for overseeing the e-voting process to wind up six debt schemes of Franklin Templeton MF.
The observer will submit the voting results and its report on voting in a sealed envelope to the Supreme Court. The apex court has also said that the redemptions from these six schemes continue to be stayed till the date of the next hearing scheduled in the third week of January 2021.
Earlier this week, the fund house informed unitholders that the e-voting would begin at 9 am on December 26 and go on till 6 pm, December 28. There will also be a unitholders’ meeting with the trustees on December 29, where unitholders will get a chance to meet the fund’s trustees through video conferencing. Unitholders will also be allowed to vote during this meeting.
Following these updates from the Supreme Court, Sanjay Sapre, President, Franklin Templeton Asset Management (India) said that they will continue to proceed with next steps to seek unitholder consent for the winding up of the six schemes.
“Over the next few days, you will receive the user id and password from KFin Technologies,” Sapre wrote in a letter to unitholders.
As on December 1, AUM of the six schemes stood at Rs 25,880 crore.
