SAT grants interim relief to Franklin Templeton MF, partly stays Sebi order

In a 100-page order, Sebi has rapped the fund house for "several irregularities" in the running of its six debt schemes that were wound up in April 2020

The Securities Appellate Tribunal (SAT) on Monday provided interim relief to Franklin Templeton Mutual Fund (FT MF) by partly staying an order passed by market regulator Sebi against the fund house

The tribunal has stayed Sebi’s direction to the fund house against launching any new debt schemes for a period of two years. Also, SAT has allowed the asset manager to deposit Rs 250 crore, instead of Rs 512 crore as directed by Sebi.

In an order passed on June 7, Sebi had directed FT to disgorge Rs 512 crore it had collected as investment management and advisory fees between