New Delhi, April 2 (SocialNews.XYZ) The six shut schemes of Franklin Templeton Mutual Fund have received Rs 15,776 crore so far from maturities, pre-payments and coupons.
In a statement, the fund house said that all the schemes are cash positive as on March 31, 2021.
"From April 24, 2020 to March 31, 2021, the six schemes under winding up have received INR 15,776 crore from maturities, pre-payments, and coupons. All schemes are cash positive as on March 31, 2021," it said.
It further said that in five out of the six schemes, the cash available for distribution as on January 15, 2021 -- Rs 9,122 crore -- has been distributed to the unitholders (except cases requiring remediation or with incomplete documentation) as per the Supreme Court order.
It also asid tha each scheme will return money to the investors after paying all the obligations, liabilities towards borrowings, expenses or provisions, if any.
Earlier in the day, Franklin Templeton India's President Sanjay Sapre wrote to the investors, asserting that the fund house has no plans to exit its India business.
The statement comes at a time when media reports suggested that Franklin Templeton had requested for talks with the Indian Ambassador to the US over the capital market regulator SEBI's probe into six shut debt schemes of the fund house in the country. The reports also said that Franklin Templeton had threatened to exit India operations if it was not given a fair hearing.
In a letter to investors, Sapre described the reports of a likely exit as speculations and rumours.
The six debt schemes of Franklin Templeton Mutual Fund were shut in April last year after they faced unprecedented redemptions and liquidity issues amid the pandemic.
Source: IANS
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