Franklin warns investors may lose for voting against $4 bn wind up plan

Franklin Templeton Asset Management (India) Pvt. warned investors of potential losses if they vote against its plan to wind up more than $4 billion of debt funds it froze earlier this year.

Electronic voting will take place Dec. 26 to 28 on the asset manager’s plan, according to a statement from the company Monday.

Franklin is seeking a simple-majority consent of unitholders on its proposal to wind up six plans it had shuttered in April, which locked in 308 billion rupees ($4.2 billion) in the biggest forced fund closure ever in India.

The country’s top court asked the asset manager on Dec. 3