Franklin Templeton India did not take any approval from the Securities and Exchange Board of India (Sebi) before shutting down six of its struggling debt schemes, according to the markets regulator’s response to a recent right to information (RTI) application. According to public statements by Franklin, the regulator was informed about the winding up of schemes at every step when it shuttered the debt schemes on 23 April citing severe illiquidity and redemption pressures due to the coronavirus pandemic.
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