SAT to pass order in Franklin Templeton case on June 28
2 min readSebi directed FT on June 8 to restore the cost of fund management worth 451.63 crore to investors from six debt funds.
The appeal court will give the order in the problem of defense Franklin Templeton challenging the effects and exchanges of the Indian direction board on June 28. Sat heard the argument of both parties on June 25 and then ordered the order.
Franklin Templeton, who covered six debt schemes last year, argued that the command was the beginning of this month which launched it from launching any debt scheme for two years with the direct effect of justice.
The regulator has also imposed a penalty and requested home funds to restore investment management and consultation costs collected for six schemes.
Loudly oppose freshener, saying a refund beyond them from the index and has benefited investors. It also said half of investors were institutions and they did not submit one complaint against the house of funds until the scheme was closed.
FT also denied that all schemes were not one but different because the return varied to them all.
However, Sebi believes that FT does not meet the rules and circulars that are well-defined. Market regulators said the direction was based on forensic reports and had passed orders after searching for FT views.
Sebi also said the number involved – Rs 25,000 Crore – not small and only RS 17,000 Crore has recovered. It is said that this problem has been taken by various high courts and even the Supreme Court.
Sebi directed FT on June 8 to restore the cost of fund management worth 451.63 crore to investors from six debt funds. It also charged a 12 percent interest cost in this number, taking the total amount to be disgorged to RS 512.5 Crore.
In addition, regulators imposed RS 5 Crore penalty at Franklin Templeton India Management Asset Company for violating various rules and circular sebi such as investment and loan norms, behavioral codes, and fair assessment principles.
About Author
