News From Press Franklin Templeton: Some officials redeemed investments before winding up, shows audit

Franklin Templeton: Some officials redeemed investments before winding up, shows audit

The forensic audit also pointed to Franklin Templeton not exercising put options in papers despite ratings downgrade, said sources

Mint Oct 7, 2020

The forensic audit by Choksi & Choksi ordered by Securities and Exchange Board of India (Sebi) has found that few key managerial personnel (KMP) of Franklin Templeton India withdrew their own investments before the fund house shut six of its debt schemes on 23 April. The forensic audit also pointed to Franklin Templeton not exercising put options in papers despite ratings downgrade, said two people with direct knowledge of the matter.

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