The schemes together have an estimated Rs 25,000 crore as assets under management
(AUM). These include Franklin India Low Duration Fund, Franklin India Dynamic Accrual Fund, Franklin India Credit Risk Fund, Franklin India Short Term Income Plan, Franklin India Ultra Short Bond Fund, and Franklin India Income Opportunities Fund.
Of the six schemes, Franklin India Ultra Short Bond Fund and Franklin India Dynamic Accrual Fund have 21 per cent and 12 per cent of their respective AUMs available in cash to distribute to unitholders. This is subject to a successful unit holder vote.
According to a Karnataka High Court order, the e-voting and unitholders meet will remain suspended until further directions.
"This is very crucial as active monetisation of assets of the schemes and distribution of investment proceeds to the unitholders will be possible only after successful e-voting," the statement noted.
Besides, the fund house said borrowing levels in the other schemes continue to decline with Franklin India Low Duration Fund and Franklin India Credit Risk Fund closer to becoming cash positive.