SEBI has appointed the former Chief Election Commissioner (CEC) T S Krishnamurthy as the ‘observer’ in e-voting of the six debt schemes of Franklin Templeton MF. The voting is scheduled between December 26 and December 29.
This is in line with the Supreme Court’s order. The trustees of Franklin Templeton India MF will seek unitholders’ permission through e-voting for closure of the debt schemes. The e-voting will be held between December 26-28 followed by a unitholder meet on December 29. As directed by the apex court, the result of the e-voting would not be announced and would be produced before the Supreme Court in a sealed cover along with the report of the former CEC appointed by SEBI.
SEBI has also constituted a technical assistance team to assist the former CEC. This team comprises:
i. Mr. B.N Sahoo, Chief General Manager, SEBI
ii. Ms. Nayana Ovalekar, Chief Operating Officer of Central Depository Services Limited.
iii. Mr. K. Sriram, Practising Company Secretary and Scrutiniser
iv. Mr. M. Krishna and Mr. Ch E Sai Prasad, Assistant Directors of Central Forensic
Science Laboratory, Hyderabad.
These 6 schemes are Franklin India Ultra Short Bond Fund (Rs 10,147 crore AUM), Franklin India Low Duration Fund (Rs 2,563 crore AUM), Franklin India Short Term Income Plan (Rs 5,500 crore AUM), Franklin India Income Opportunities Fund (Rs 1,700 crore AUM), Franklin India Credit Risk Fund (Rs 3,604 crore AUM) and Franklin India Dynamic Accrual Fund (Rs 2,536 crore AUM).
The total AUM of these 6 schemes stands at Rs 26,050 crore as of December 15.
