Franklin Templeton Case : SEBI has approached the Supreme Court against the decision of the Securities Appellate Tribunal (SAT) on Franklin Templeton Asset Management Company India. SAT had stayed the SEBI order barring Franklin Templeton from launching any new debt scheme for two years. Along with this, the investors had also ordered to return Rs 512 crore to the investors who had invested in the debt schemes of Franklin Templeton.
SEBI moves to set aside SAT verdict
In the petition of SEBI filed in the Supreme Court, it has been said that the Supreme Court should quash the relief given by SAT to Franklin Templeton against the decision of SEBI. In a separate hearing on a petition filed by Franklin Templeton regarding the closure of its six mutual fund schemes, the Supreme Court said that if these schemes are to be wound up, the trustees must first obtain the consent of the unit holders of the mutual fund schemes. Will be. The court said that after publishing the reason for discontinuing the debt schemes, the consent of the majority of the unit holders would have to be taken to implement it.
Advertisement of cryptocurrency exchanges may be stopped on TV without disclaimer, Delhi High Court issues notice
SEBI had asked Franklin Templeton to deposit Rs 512 crore
SEBI, in its latest appeal in the Supreme Court, has criticized the SAT’s decision, which said that the amount asked to return the investors was too high. SAT had asked Franklin Templeton to deposit Rs 250 crore in the Escrow account to return the money to investors, while SEBI asked to deposit Rs 512 crore. Franklin Templeton appealed to the SAT against the June 7 decision of SEBI. The SEBI judgment said that Frankling Templeton had violated certain provisions of the Mutual Funds Rules in the course of management of its six debt schemes. All these six debt schemes are now closed.