The Supreme Court has today upheld the results of e-voting and ordered the fund house to initiate winding up of the 6 debt schemes.
With this, the fund house will refund money in cash starting from February 15. SBI MF will oversee the entire refund process, said the apex court. The move will accelerate the process of repaying funds to unitholders after the schemes were shut in April last year.
Earlier, the SC had directed Franklin Templeton MF to distribute the recovered amount of Rs.9,122 crore to unitholders of six wound up schemes.
The fund house has a distributable surplus of Rs.9122 crore as on January 15, 2021.
The shutdown schemes were Franklin India Low Duration Fund, Franklin India Ultra Short Bond Fund, Franklin India Dynamic Accrual Fund, Franklin India Credit Risk Fund, Franklin India Income Opportunities Fund and Franklin India Short Term Income Plan.
