News From Press SBI Funds seeks SC nod to distribute Franklin’s Rs 9,122 crore to unitholders

SBI Funds seeks SC nod to distribute Franklin’s Rs 9,122 crore to unitholders

An “overwhelming majority” of unitholders had voted in favour of the move in December. Around 3 lakh investors were affected by the winding up of these debt mutual fund schemes.

Financial Express Feb 9, 2021

SBI Funds Management, an asset management company of SBI MF, on Monday moved the Supreme Court seeking permission to submit the mechanism for distribution of Rs 9,122 crore to the unitholders of the six mutual fund schemes of Franklin Templeton (FT) Trusts Services. The case will come up for hearing on Tuesday. The asset management company also sought protection from any liability arising from the distribution exercise and wants all the expenses related to such disbursement to be borne by the fund house.

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