SC upholds validity of e-voting for winding up of six mutual fund schemes of Franklin Templeton
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The Supreme Court on Friday upheld the validity of e-voting course of for winding up of six mutual fund schemes of Franklin Templeton, and mentioned disbursal of funds to unit holders will proceed.
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A bench of justices S.A.Nazeer and Sanjiv Khanna, whereas rejecting the opposition by some unit holders to the e-voting course of, mentioned disbursal of funds must be carried out as per the sooner order of the apex courtroom.
The high courtroom had on February 2 ordered that ₹9,122 crore be disbursed inside three weeks to the unit holders of Franklin Templeton’s six mutual fund schemes that are proposed to be wound up.
It had mentioned that disbursal of cash can be carried out in proportion to unit holders’ curiosity within the belongings.
Earlier, the apex courtroom had requested the Securities and Exchange Board of India (SEBI) to nominate an observer for overseeing the e-voting course of.
The voting with regard to winding up Franklin Templeton’s six mutual fund schemes had taken place within the final week of December and it has been accredited by a majority of unit holders.
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