SC upholds validity of Franklin e-vote, paves way for wind up of 6 schemes

Authorises SBI Funds Management to take next steps on monetisation

The Supreme Court (SC) on Friday upheld the validity of Fraklin Templeton’s e-voting process, paving the wave for the wind-up of the asset manager's six debt schemes. 

In addition, it has appointed SBI Funds Management the authorised entity to work on the monetisation of assets.

“Franklin Templeton Mutual Fund will provide all assistance and cooperation to SBI Funds Management to monetise the assets. The decision of the Supreme Court to dispense with voting under regulation 41 reduces any potential delay in commencing active monetisation of assets,” said a Franklin spokesperson.