SEBI on Monday issued an array of orders in the Franklin Templeton case. The market regulator has imposed a fine of over Rs.21 crore on 11 people and two corporate entities associated with the fund house.
Last week, the market regulator had imposed Rs.5 crore fine on the fund house.
The orders are in cases related to the winding up of six debt schemes in 2020.
In four different orders, SEBI has fined 11 people including the president of the AMC Sanjay Sapre and CIO Santosh Kamath.
The regulator imposed a penalty of Rs.1.5 crore each on Kunal Agarwal, Sumit Gupta, Pallab Roy, Sachin Padwal Desai and Umesh Sharma, who were the fund managers at the time of violation.
The then directors Venkata Radhakrishnan and Jayaram S Iyer were also found to have violated the rules. SEBI has imposed fine of Rs.45 lakh on Radhakrishnan and Rs.25 lakh on Iyer.
The regulator has also penalised two entities — Franklin Templeton Trustee Services (Rs.3 crore) and Mywish Marketplaces Pvt Ltd (Rs.5 crore).
They have been directed to pay the penalty within 45 days.
|
Name |
The then designation |
Penalty |
|
Franklin Templeton Trustee Services Pvt Ltd |
-- |
Rs 3 crore |
|
Sanjay Sapre |
CEO of FT AMC |
Rs 2 crore |
|
Santosh Kamath |
CIO |
Rs 2 crore |
|
Kunal Agarwal |
Fund Manager |
Rs 1.5 crore |
|
Sumit Gupta |
Fund Manager |
Rs 1.5 crore |
|
Pallab Roy |
Fund Manager |
Rs 1.5 crore |
|
Sachin Padwal Desai |
Fund Manager |
Rs 1.5 crore |
|
Umesh Sharma |
Fund Manager |
Rs 1.5 crore |
|
Saurabh Gangrade |
Chief Compliance Officer |
Rs 50 lakh |
|
Venkata Radhakrishnan |
Director |
Rs 45 lakh |
|
Malathi Radhakrishnan |
Wife of Venkata Radhakrishnan |
Rs 50 lakh |
|
Jayaram S Iyer |
Director |
Rs 25 lakh |
|
Mywish Marketplaces Pvt Ltd |
Associate company of FT AMC |
Rs 5 crore |
