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Franklin Templeton moves SC against Karnataka HC order on shut funds
TIWN
Franklin Templeton moves SC against Karnataka HC order on shut funds
PHOTO : TIWN

New Delhi, Nov 24 (TIWN) Franklin Templeton Mutual Fund has approached the Supreme Court against the Karnataka High Court's order which said that mutual fund schemes cannot be shut without the consent of the unit holders.

While upholding Franklin’s decision to shut down six of its debt schemes on April 23 on grounds of difficult conditions in the bond market due to the Covid-19, the HC said “the decision of the trustees to wind up the six schemes is not interfered by the court subject to it obtaining consent from the unitholders”.

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