 "PM Narendra Modi")
Sebi fines Franklin MF Rs 5 cr, asks it to return Rs 512 cr fund mgt fees
The Securities and Exchange Board of India (Sebi) on Monday slapped a penalty of Rs 5 crore on Franklin Templeton Mutual Fund for “several irregularities” in the running of its six debt schemes that were wound up in April 2020. The market regulator has also directed the fund house to disgorge Rs 451 crore (Rs 512 crore after interest) it has collected as investment management and advisory fees between June 2018 and April 2020.
Further, the US-headquartered asset manager has been prohibited from
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