38.6c New Delhi, India, Thursday, March 28, 2024
Business

Franklin Templeton Files Additional Affidavits After Karnataka HC Reserves Judgment

By ROCKY DAS      07 October, 2020 01:51 PM      0 Comments
Franklin Templeton Affidavits

In April 2020, Franklin Templeton Asset Management India Private Limited and Franklin Templeton Trustees Private Limited had announced to wind up six mutual funds on the basis of low liquidity. This showcased a mere about three lakh investors to be affected by such a decision.

Gujrat High court had put a stay on Franklin Templeton’s mutual fund e-voting process for winding up of the schemes. Franklin Templeton had filed a petition in Supreme Court challenging to the order by Gujrat High Court. 

A division bench of Chief Justice Abhay Oka and Justice Ashok S Kinagi has ordered the Fund house to submit all the furnished documents to the advocates appearing on behalf of the petitioner. It has also mentioned that if any of the petitioners have any kind of objection, then they should file a memo report on record in order to list the case again for consideration upon their objection. And if anyone has no objections they can file a memo to the effect. 

The bench first heard the counsel in a petition filed at the Delhi court subsequently followed by Gujrat and Madras High Court. The petitions were transferred to the Karnataka High Court on the order of the Hon’ble Supreme Court on June 19 for fresh hearings and disposal with a deadline time period of three months. 

The bench began hearing of the matter on daily basis through video conferencing from August 12. The judgment was reserved on September 24 by the Karnataka High Court by hearing of all the facts from both parties.



Share this article:



Leave a feedback about this
TRENDING NEWS

india-summons-us-diplomat-over-state-dept-remarks-on-kejriwals-arrest
Trending International
India summons US diplomat over state dept remarks on Kejriwal's arrest

After CAA, U.S. wades into Arvind Kejriwal’s arrest. Here's how India responded.

27 March, 2024 04:41 PM
delhi-high-court-warns-against-aaps-call-for-protest-in-court-premises-amid-kejriwal-arrest
Trending Judiciary
Delhi High Court Warns Against AAP's Call for Protest in Court Premises Amid Kejriwal Arrest

Delhi High Court warns Aam Aadmi Party's Legal Cell of severe action for any protest in Delhi Courts against Arvind Kejriwal's arrest.

27 March, 2024 05:57 PM

TOP STORIES

global-entertainment-giants-warner-bros-netflix-amazon-get-relief-from-delhi-hc-in-copyright-protection-case
Trending Business
Global entertainment giants Warner Bros, Netflix, Amazon get relief from Delhi HC in copyright protection case

Delhi HC grants relief to global entertainment giants like Netflix, Amazon, Warner Bros, ordering takedown of copyrighted content on rogue websites.

22 March, 2024 12:13 PM
arvind-kejriwal-arrested-can-cm-administer-a-region-while-being-in-jail
Trending Top Stories
Arvind Kejriwal Arrested | Can CM administer a region while being in jail?

Will President's rule be imposed in Delhi after Kejriwal’s arrest? Read the full article to know more.

22 March, 2024 03:16 PM
merely-because-you-are-politician-cant-bypass-statutory-remedies-procedure-sc-refuses-to-consider-bail-by-kavitha
Trending Judiciary
'Merely because you are politician, can't bypass statutory remedies, procedure,' SC refuses to consider bail by Kavitha

Supreme Court denies bail to politician Kavitha in Delhi Liquor Policy Scam; ED alleges Rs 100 crore illegal gratification.

22 March, 2024 03:34 PM
ponmudi-to-be-sworn-in-as-minister-tn-governor-relents-before-sc
Trending Judiciary
Ponmudi to be sworn in as Minister, TN Governor relents before SC

Tamil Nadu Governor relents to Supreme Court's order, agrees to swear in DMK leader K Ponmudi as Minister after court's rap.

22 March, 2024 03:54 PM

ADVERTISEMENT


Join Group

Signup for Our Newsletter

Get Exclusive access to members only content by email