SC nod for SBI MF plan to distribute Rs 9,122 cr to Franklin unitholders

Distribution mechanism was framed in consultation with Sebi and Franklin Templeton MF

The Supreme Court (SC) on Tuesday approved the mechanism proposed by SBI Mutual Fund to distribute Rs 9,122 crore to unitholders of the six shuttered debt schemes of Franklin Templeton Mutual Fund.

The distribution mechanism was framed in consultation with the market regulator, Securities and Exchange Board of India (Sebi), and Franklin Templeton MF.

“Franklin Templeton MF will provide all assistance to SBI MF to distribute the available cash to respective unitholders, at the earliest,” said a spokesperson for Franklin Templeton MF. 

The apex court will next hear the matter on February 17 to consider other aspects of the appeal.

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