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Sebi fines Franklin MF Rs 5 cr, asks it to return Rs 512 cr fund mgt fees

US-headquartered asset manager has been barred from launching any new debt scheme for two years

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Frankln MF in a statement said, "We strongly disagree with the findings in the Sebi order and intend to file an appeal with the Securities Appellate Tribunal."

Samie Modak Mumbai

5 min read Last Updated : Jun 08 2021 | 11:45 AM IST

The Securities and Exchange Board of India (Sebi) on Monday slapped a penalty of Rs 5 crore on Franklin Templeton Mutual Fund (FT MF) for “several irregularities” in the running of its six debt schemes that were wound up in April 2020.

The market regulator directed the fund house to disgorge Rs 451 crore (Rs 512 crore after interest) it collected as investment management and advisory fees between June 2018 and April 2020.

Further, the US-headquartered asset manager has been prohibited from launching any new debt scheme for a period of two years.

“The findings in the instant proceedings have

Topics : Mutual Fund SEBI Securities and Exchange Board of India Franklin Templeton

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