Investigations into closure of six debt mutual fund schemes uncover details of how some executives pulled out their investments and interfered in risk assessment.
The Franklin Templeton India can of worms is a gift that keeps on giving. Investigations into the mess have uncovered fresh details of how the fund house’s top executives, their family members and trustees jumped ship before it shut down its suite of six debt mutual fund schemes on 23 April last year.
In a case that smacks of insider trading, the forensic audit commissioned by the Securities and Exchange Board of India has found 23 instances of top executives and connected entities withdrawing Rs 56 crore in March and April, ahead of the schemes being shut down for redemptions …
Jayshree is a former writer at The Morning Context. As journalist, she had nearly a decade of experience across Mint, Business Standard and Bloomberg TV India. The bulk of her career has been devoted to tracking the capital markets regulator, exchanges, regulatory policies, financial scams and corporate governance issues. One of her biggest breaking stories was her incisive coverage of the colocation scam which put the lapses at NSE in the public domain.
jayshree@mailtmc.com