SC approves SBI MF plan for Franklin Templeton schemes

The Supreme Court on Thursday accepted the standard operating procedure (SOP) prepared by SBI Funds Management (SBI MF) to monetise assets and distribute the proceeds to unitholders of the six debt schemes of Franklin Templeton (FT) Mutual Fund. The SOP was prepared in consultation with FT Mutual Fund and market regulator Sebi. 

The six shuttered schemes have already distributed Rs 9,122 crore to investors and have accrued another Rs 1,370 crores in cash as on March 15. The six schemes were frozen by the FT Mutual Fund in April 2020.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel