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SC asks Franklin Templeton to return Rs 9,122 Cr to investors

On Tuesday, the Supreme Court directed Franklin Templeton Mutual Fund to return Rs 9,122 crore within 20 days to investors. The Supreme Court, in its order, also said that if either party is not satisfied, they can approach the Supreme Court. During coronavirus- induced lockdown, Franklin Templeton shut down 6 mutual fund schemes without consulting investors. Karnataka High Court had earlier ruled against the company in this case, which was further challenged in the Supreme Court by the US-based company. The Supreme Court has now directed the company to disburse the amount within 20 days. SBI Mutual Funds has been appointed as the intermediary to distribute the money to the investors.

Read more: NDTV | The Times Of India | Livemint | News 18

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