There’s no other way to say this. Franklin Templeton’s actions now smack of entitled behaviour and aren’t, in any way, beneficial to any of the parties involved in the sordid mess triggered by its shutting down six of its debt mutual fund schemes in India last April. Not the fund house. Not the Securities and Exchange Board of India. And certainly not the confidence of thousands of investors who have placed their trust in the company.
In a recent bizarre development, the US-headquartered asset management company used diplomatic channels to seek a “just and fair” hearing in the ongoing investigation by SEBI. The regulator is in the final stages of its investigations into the shutting of the six schemes on 23 April 2020. These schemes are currently being liquidated by SBI Mutual Fund, where the underlying securities are being monetized. The proceeds will be distributed to the investors as and when the Supreme Court issues directions.
“If we are hit