Franklin Templeton India has told the Karnataka high court its actions regarding its six shuttered debt funds were above board, and the allegations levelled against the asset manager were in fact industry practices. In four separate lawsuits, investors have alleged the schemes were wound down abruptly and did not follow due process; and that the schemes were mismanaged and the covid-19 outbreak was just an excuse to close them. The high court will start hearing the case on 7 August.
Irdai directs cos to meet social sector obligations
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