On April 23, 2020, Franklin Templeton Trustee Services Private Limited voluntarily decided to wind up its suite of six fixed income funds on April 23, 2020. The company says that the decision was taken in light of the severe market dislocation and illiquidity caused by the COVID-19 pandemic but it was taken with the objective of safeguarding the interest of their investors.
There has been order passed by the Honorable Supreme Court and their way forward on the Voting exercise. The Karnataka court felt that it was necessary to seek unitholders consent before winding up the six schemes under regulation 18(15) (c).. Thus, Franklin Templeton will be holding an e-voting process for the same. You know that the company has always been keen to move forward with the consent voting. Here is all you wanted to know about the e-voting process by unit holders of Franklin Templeton.
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