SC approves SBI MF plan for Franklin Templeton schemes

The Supreme Court on Thursday accepted the standard operating procedure (SOP) prepared by SBI Funds Management (SBI MF) to monetise assets and distribute the proceeds to unitholders of the six debt schemes of Franklin Templeton (FT) Mutual Fund. The SOP was prepared in consultation with FT Mutual Fund and market regulator Sebi. 

The six shuttered schemes have already distributed Rs 9,122 crore to investors and have accrued another Rs 1,370 crores in cash as on March 15. The six schemes were frozen by the FT Mutual Fund in April 2020.