New Delhi: Are you Franklin Templeton Mu. Have you invested in a scheme of funds? If the answer is yes, then there is good news for you. This is because the Supreme Court has ordered Franklin Templeton to repay crores of rupees to investors in just 20 days of the six schemes closed. In today’s Supreme Court hearing, Franklin Templeton Mu. Ordered funds.
In today’s hearing, the apex court directed Franklin Templeton Mutual Funds to repay Rs 9,122 crore to investors of six schemes closed within 20 days. The term of this day will be calculated from today i.e. Tuesday, 2nd February, 2021.
Let me tell you, Franklin Templeton abruptly shut down six schemes in April last year. Franklin Templeton closed the scheme following a shortage of money in the bond market. The Supreme Court said in the order that the country’s largest mutual funds company SBI Mu. The funds will oversee the case.
The Supreme Court granted Franklin Templeton Mu before his Franklin Templeton Mu. The fund told its investors that it would get Rs 14,931 crore from the six closure schemes. The six schemes that Franklin Templeton discontinued included Ultra Short Bond Fund, India Loan Duration Fund, India Dynamic Accrual, Franklin India Credit Risk Fund and Franklin India Short Term Incomeplan.
The six closed schemes accounted for 65 per cent, 53 per cent, 41 per cent, 27 per cent and 11 per cent of the company’s total asset under management (AUM), respectively. Notably, Franklin Templeton’s total wealth was more than Rs 1 lakh crore. However, at present it has come down to Rs 80,000 crore. When the company closed these 6 schemes, the investors had filed an application in the Supreme Court against it.