What the Karnataka HC judgment on Franklin Templeton case means for MF investors

4 years, 5 months ago

What the Karnataka HC judgment on Franklin Templeton case means for MF investors

Live Mint

The Karnataka High Court on Saturday pronounced its judgment in the case involving the closure of six Franklin Templeton Mutual Fund debt schemes. The Supreme Court transferred the Gujarat case along with others filed in Delhi and Chennai to the Karnataka High Court on 19 June and asked it to hear the matter expeditiously. The Court also refused to ask the Serious Fraud Investigation Office to investigate the matter, taking note of the forensic audit and First Information Report in Chennai filed against Franklin Templeton AMC. Since the High Court has stayed its own decision and the Supreme Court may grant a further stay on the matter, a unit holders’ vote may not be held any time soon.

Karnataka Court Money Investors High Franklin Mutual Schemes Decision Templeton Karnataka High Court Amc Franklin Templeton Winding Hc Judgment Its Own Decision Unit Holders Franklin Templeton Amc karnataka franklin decision case amc winding means court templeton hc judgment money mutual investors mf high schemes

History of this topic

SEBI Fines Franklin Templeton's CEO, Officials & Trustee; AMC Likely To Move To SAT Against Order

3 years, 9 months ago

SEBI Fines Franklin Templeton's CEO, Officials & Trustee; AMC Likely To Move To SAT Against Order

ABP News

Mumbai: The Securities and Exchange Board of India on June 14 imposed a total fine of Rs 15 crore on nine entities, including Franklin Templeton Trustee Services, Sanjay Sapre, its chief executive officer, and its debt fund managers, among other top officials associated with the fund house's six debt schemes. In a follow-up to its last week's order, SEBI has …

Supreme Court Directs Distribution Of 9122 Crores To Unit Holders Under Franklin Templeton's Six Mutual Fund Schemes

4 years, 1 month ago

Supreme Court Directs Distribution Of 9122 Crores To Unit Holders Under Franklin Templeton's Six Mutual Fund Schemes

Live Law

The Supreme Court has on Tuesday directed that amount of 9122 crores that is cash ready with Franklin Templeton as on 15th January 2021 be distributed amongst the unit holders under the six mutual fund schemes. If Franklin Templeton can give a commitment that principal of unit holder is safe and it will honour its commitment no unit holder will …

SC lets Franklin hold vote

4 years, 3 months ago

SC lets Franklin hold vote

Live Mint

MUMBAI: Ruling on an appeal by Franklin Trustees against the Karnataka high court judgment, the Supreme Court has permitted the trustees to hold a vote on the winding up of six Franklin Templeton debt mutual fund schemes. Unable to meet redemption pressure, Franklin Templeton had frozen redemptions in six debt funds on 23 April, with combined assets of around 26,000 …

Franklin plea shows it’s willing to take unitholders’ approval

4 years, 4 months ago

Franklin plea shows it’s willing to take unitholders’ approval

Live Mint

Franklin Templeton, which decided to abruptly shut six of its Indian funds citing illiquidity in April, has told the markets regulator that it will comply with a high court order to seek consent from its unitholders even as it challenged the ruling, according to its plea filed in the Supreme Court. However, the regulator on 10 November directed the asset …

Franklin Templeton Moves Supreme Court Against Karnataka HC's Order Restraining Winding Up Of Schemes Sans Consent Of Investors

4 years, 4 months ago

Franklin Templeton Moves Supreme Court Against Karnataka HC's Order Restraining Winding Up Of Schemes Sans Consent Of Investors

Live Law

Franklin Templeton Mutual Fund has moved the Supreme Court, challenging a Karnataka high court order according to which the decision to wind down six debt schemes required simple majority consent from unit investors.Franklin has stated that in May 2020, the trustees had sought a vote by unit investors for validly undertaking an orderly sale of the debt securities held in …

FT moves apex court against HC verdict

4 years, 4 months ago

FT moves apex court against HC verdict

Live Mint

Franklin Templeton Mutual Fund moved the Supreme Court on Monday, challenging a Karnataka high court order that said its decision to wind down six debt schemes in April required a simple majority consent from unitholders. The trustees of Franklin Templeton decided to wind up six debt schemes on 23 April, citing illiquidity due to the coronavirus outbreak, a decision which …

[Breaking] Karnataka High Court Restrains Franklin Templeton From Proceeding With Winding Up Of Schemes Without Obtaining Consent Of Investors

4 years, 5 months ago

[Breaking] Karnataka High Court Restrains Franklin Templeton From Proceeding With Winding Up Of Schemes Without Obtaining Consent Of Investors

Live Law

The High Court of Karnataka on Saturday restrained Franklin Templeton Investments from proceeding with the winding up of debt fund schemes without obtaining the consent of unit investors.A division bench of Chief Justice AS Oka and Justice Justice Ashok S Kinagi held a special sitting on Saturday to pronounce the verdict in petitions challenging the winding up of six debt …

Franklin Templeton Files Additional Affidavits After Karnataka HC Reserves Judgment

4 years, 5 months ago

Franklin Templeton Files Additional Affidavits After Karnataka HC Reserves Judgment

Live Law

The Karnataka High Court on Monday posted a batch of petitions challenging the winding up of six debt schemes of Franklin Templeton, for the purpose of recording that FT Asset Management India Private Limited and FT Trustees Private Limited have filed two affidavits. The bench began hearing on the batch of petitions challenging winding up of six debt schemes of …

Franklin Templeton: Karnataka HC To Start Hearing Petitions Against Winding Up Of Debt Schemes From August 12

4 years, 7 months ago

Franklin Templeton: Karnataka HC To Start Hearing Petitions Against Winding Up Of Debt Schemes From August 12

Live Law

The Karnataka High Court will commence hearing on a daily basis on petitions challenging winding up of six debt schemes of Franklin Templeton, from August 12. A division bench of Chief Justice Abhay Oka and Justice Ashok S Kinagi said that it will first hear the counsel in a petition filed before the Delhi High court, followed by Gujarat and …

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Cash row: 1991 verdict on immunity to judges back in focus as SC junks plea for FIR

Hindustan Times

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Karnataka HC orders action against judge for citing 'fake' SC verdicts

Deccan Chronicle

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3 days, 20 hours ago

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Hindustan Times

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Kerala HC against bankers’ panel’s proposal for moratorium, restructuring of loans of Wayanad landslide survivors

4 days, 1 hour ago

Kerala HC against bankers’ panel’s proposal for moratorium, restructuring of loans of Wayanad landslide survivors

The Hindu

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HC reduces sentence imposed by trial court on former railway employees with condition to deposit compensation

4 days, 19 hours ago

HC reduces sentence imposed by trial court on former railway employees with condition to deposit compensation

The Hindu

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Cash-at-home row: What’s the 2018 CBI case involving Delhi HC judge Yashwant Varma?

1 week, 1 day ago

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Firstpost

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Hindustan Times

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Live Law

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Hindustan Times

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Cash-for-job scam: SC stays Madras HC order for CBI probe against ex-AIADMK minister

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1 week, 5 days ago

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Hindustan Times

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Fair Market Value Of Shares Determined By Statutory Methods Can't Be Rejected By Income Tax Department: Karnataka High Court

1 week, 6 days ago

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Live Law

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2 weeks ago

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Op India

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Rose Valley chit fund case: Court orders ₹450-crore assets to be repaid to cheated investors

2 weeks, 1 day ago

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Hindustan Times

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2 weeks, 4 days ago

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Hindustan Times

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Live Law

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3 weeks ago

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The Hindu

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3 weeks, 4 days ago

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3 weeks, 5 days ago

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The Hindu

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1 month ago

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The Hindu

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The Hindu

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1 month ago

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Live Mint

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1 month ago

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India Today

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1 month, 1 week ago

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The Hindu

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1 month, 1 week ago

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Live Mint

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1 month, 1 week ago

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The Hindu

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1 month, 1 week ago

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New Indian Express

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1 month, 1 week ago

Compensation to three electricity accident victims upheld

The Hindu

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1 month, 1 week ago

Here are the big stories from Karnataka today

The Hindu

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1 month, 1 week ago

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Live Law

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Building Violations Committed In Broad Daylight Cannot Be Compounded By Tribunal: J&K High Court Upholds Demolition Order

1 month, 1 week ago

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Live Law

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Interest May Be Denied To Party Who Abused Judicial Process : Supreme Court

1 month, 2 weeks ago

Interest May Be Denied To Party Who Abused Judicial Process : Supreme Court

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Paytm Money pays ₹45.5 lakh to settle market norms violation case with Sebi

1 month, 2 weeks ago

Paytm Money pays ₹45.5 lakh to settle market norms violation case with Sebi

The Hindu

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Punjab & Haryana High Court Upholds ₹50K Cost On Bank For 17 Years Of Silence On Retired Employee's Plea Seeking Release Of Gratuity

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Live Law

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1 month, 2 weeks ago

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Live Law

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Karnataka Governor Rejects Microfinance Ordinance, Cites Injustice To Lenders

1 month, 3 weeks ago

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ABP News

Governor Thaawarchand Gehlot on Friday rejected Karnataka Micro Finance Ordinance 2025, stating that in its current form, the lenders, who are also part of the society, are being done a great injustice. Aimed at protecting borrowers from harassment by microfinance institutions, the Karnataka government drafted the ordinance with penal provisions, including a jail term up to 10 years, and fine …

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Dispute Regarding Share Purchase Agreement Not Maintainable Before Commercial Court: Karnataka High Court

1 month, 3 weeks ago

Dispute Regarding Share Purchase Agreement Not Maintainable Before Commercial Court: Karnataka High Court

Live Law

The Karnataka High Court has held that a dispute related to the recovery of money in regard to the share purchase agreement is not maintainable before the Commercial Court. A single judge, Justice H T Narendra Prasad allowed the petition filed by Bhashakar Naidu challenging the order of the Commercial Court which had rejected its application filed under Order VII …

Bengaluru Court Commercial Agreement Share Filed Kar

Adjustment Of Refund Against Confirmed Demand During Pendency Of Appeal Amounts To Coercive Recovery: CESTAT

1 month, 3 weeks ago

Adjustment Of Refund Against Confirmed Demand During Pendency Of Appeal Amounts To Coercive Recovery: CESTAT

Live Law

The Chandigarh Bench of Customs, Excise, and Service Tax Appellate Tribunal has stated that adjustment of refund against a confirmed demand during the pendency of an appeal amounts to coercive recovery. Regarding the adjustment of the amount from the total refund sanctioned to the assessee, the bench of S.S. Garg and P. Anjani Kumar found that the “Adjudicating Authority has …

Appeal Order Date Demand Commissioner Stat Confirmed

Karnataka High Court issues notice to banks on Vijay Mallya’s plea seeking debt recovery details

1 month, 3 weeks ago

Karnataka High Court issues notice to banks on Vijay Mallya’s plea seeking debt recovery details

The Hindu

The High Court of Karnataka on Wednesday ordered issue of notice to the debt recovery officer and 10 banks on a petition filed by fugitive businessman Vijay Mallya seeking directions to the banks to provide statement of accounts for the total amount, along with accrued interest, owed by him, the United Breweries Holdings Ltd., and other certificate debtors, and the …

Recovery Court Debt Recovery Debt Banks Recovered Mallya

"Vague Complaint, Complete Assumptions": Supreme Court Affirms HC Order Quashing FIR Against BJP Leader Over Alleged Electoral Bonds Extortion

1 month, 3 weeks ago

"Vague Complaint, Complete Assumptions": Supreme Court Affirms HC Order Quashing FIR Against BJP Leader Over Alleged Electoral Bonds Extortion

Live Law

The Supreme Court today, while dismissing the plea challenging the discharge of ex-BJP Karnataka State President Naleen Kumar Kateel in a case alleging extortion through electoral bonds, remarked that the complaint was 'vague' and based on 'assumptions'The Court however clarified that the dismissal of the present plea would not bar anyone from showing material evidence which. The Supreme Court today, …

Supreme Court Court Order Extortion Case Ipc High

Supreme Court Modifies Its Judgment, Upholds PG Degrees Of Medical Professionals In WB Who Completed Studies By July 2022

1 month, 4 weeks ago

Supreme Court Modifies Its Judgment, Upholds PG Degrees Of Medical Professionals In WB Who Completed Studies By July 2022

Live Law

In a major relief for several medical professionals in West Bengal, the Supreme Court recently modified its judgment, ensuring that those who had completed their studies till July 2022 and were working as Senior Residents will retain their degrees as legal and valid. Instead, the Court permitted her to continue her studies at the North Bengal Medical College, Darjeeling, West …

Supreme Court Judgment Court West Bengal Medical Professionals Bengal Studies

Panel dismisses complaint against delay in disbursal of lottery prize money

1 month, 4 weeks ago

Panel dismisses complaint against delay in disbursal of lottery prize money

The Hindu

The Ernakulam District Consumer Disputes Redressal Commission has dismissed a complaint lodged by a native of Kadungalloor near Aluva, alleging that he did not receive a lottery prize money in time due to delay on the part of the Udyogmandal branch of the Indian Overseas Bank in Eloor in forwarding the lottery ticket to the Directorate of Lotteries. K. Asokan, …

Lottery Bank Commission

SC upholds over ₹1 crore award to daughters of couple which died in road mishap

2 months ago

SC upholds over ₹1 crore award to daughters of couple which died in road mishap

Hindustan Times

New Delhi, The Supreme Court on Wednesday set aside a verdict and upheld over ₹1 crore compensation awarded to the daughters of a couple which died in a road accident. SC upholds over ₹ 1 crore award to daughters of couple which died in road mishap A bench comprising Justices Sudhanshu Dhulia and Ahsanuddin Amanullah took note of the appeal …

Compensation Court Award Daughters