Wound-up schemes: ED seeks details from Sebi in Franklin Templeton case

It is learnt that the regulator has responded to the ED, saying that it will share the audit report once it is finalised

Trouble is mounting for Franklin Templeton, as its dealings in six wound-up mutual fund schemes have come under Enforcement Directorate (ED) scanner. 

Sources said the federal agency has sought details of the case from the Securities and Exchange Board of India (Sebi). 

It is already examining Franklin Templeton’s investment strategy, code of conduct, redemptions before announcing the closure of schemes and the role of board members as well as trustees while handling risk. 

“A letter has come from the directorate seeking case details, development in the matter along with findings of the auditors appointed by the regulator to do the forensic audit,” said