Franklin Templeton: SEBI Appoints Observer On The Basis Of Supreme Court's December 9 Order

Securities & Exchange Board of India has appointed an Observer regarding e-voting of unit holders of six schemes of Franklin Templeton Mutual Fund.This comes in light of an order passed by top court of December 9, 2020 whereby the top court had also directed that the result of the e-voting would not be announced and would be produced before the Hon'ble Supreme Court in a sealed cover. Securities & Exchange Board of India has appointed an Observer regarding e-voting of unit holders of six schemes of Franklin Templeton Mutual Fund. This comes in light of an order passed by top court of December 9, 2020 whereby the top court had also directed that the result of the e-voting would not be announced and would be produced before the Hon'ble Supreme Court in a sealed cover along with the report of the Observer appointed by the SEBI. On December 25, Chennai Financial Markets & Accountability, one of the petitioners at the forefront for the cause of Unit Holders in the Franklin Templeton Mutual Fund case of winding up of six of its schemes had moved an urgent interim application before the Supreme Court in light of order of the court dated 9th December being rendered non-est.