Franklin Templeton MF likely to move Supreme Court over HC order

While the court has upheld the decision taken by the trustees to wind-up the schemes, the consent of the unitholders will be required under regulation 18(15)(c) to operationalise the decision

Franklin Templeton Mutual Fund may turn to the Supreme Court over certain aspects of the Karnataka High Court order related to winding down of six debt schemes.

“While we are still in the process of studying the order, basis our initial review, we believe it may be necessary to appeal aspects of the order in the Hon’ble Supreme Court,” said Franklin Templeton India President Sanjay Sapre on Saturday. “It will also be our endeavour to seek appropriate directions from the court regarding return of cash of over Rs 5,200 crore, currently accumulated in the four cash positive schemes, and with regard