Franklin Templeton's closures reflect poorly on India's capital markets

Failures like IL&FS, Yes Bank and Templeton have been absorbed by the Indian financial system, but at a cost

The courtroom drama over shutting down six of Franklin Templeton’s local Indian mutual funds will soon come to an end, but the denouement shines an unkind light on how the country is running its capital markets.
 

Almost 97% of unitholders have voted in favor of winding up the plans, which the U.S. fund house abruptly put into suspended animation during a nationwide Covid-19 lockdown last April. But what choice did investors really have?
 

As the website Moneylife reported, the Yes button in the e-voting form promised “a potential to realize fair value.” The option marked No threatened a “distress sale