News From Press Franklin Templeton MF: SC says SAT direction of ₹250-crore deposit is ‘fair’

Franklin Templeton MF: SC says SAT direction of ₹250-crore deposit is ‘fair’

SEBI argued that reducing the penalty amount will set a precedent

Source:BusinessLine Jul 27, 2021

The Supreme Court has allowed Franklin Templeton Mutual Fund (FTMF) to deposit ₹250 crore into an escrow account instead of ₹512 crore as earlier directed by SEBI.

In June, the market regulator had asked FTMF to return nearly ₹512 crore it had collected as management and advisory fees since June 2018 on its six debt schemes that were shut down last year.

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