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In relief to unit holders of the shut schemes of Franklin Templeton India, SBI Funds Management Pvt Ltd will distribute the available cash of Rs 9,122 crore in the funds, as of January 15, among them in the coming week.

The Franklin India Ultra Short Bond Fund had available cash of Rs 5,075.39 as of January 15 and Franklin India Low Duration Fund, Short Term Income Fund, Credit Risk Fund and Dynamic Accrual Fund had cash of Rs 1,625.36 crore, Rs 469.24 crore, Rs 926.15 crore and Rs 1,025.45 crore, totalling Rs 9,121.59 crore, as per the letter by Franklin Templeton Asset Management (India) Pvt Ltd's President, Sanjay Sapre to the investors.

"Payment to all investors whose accounts are KYC compliant with all details available will be made during the week of February 15, 2021," he said.

Further, the payment will be made by extinguishing proportionate units at the prevailing net asset value (NAV) on the date of processing.

From April 24, 2020 to January 29, 2021, the six schemes under winding up have received Rs 14,391 crore from maturities, pre-payments, and coupons. Some of this cash has been used to repay borrowings.

Five schemes have turned cash positive and have Rs 9,698 crore cash (as of January 31, 2021) available to return to unit holders, said a previous communication by Sapre.

Earlier this month, the Supreme Court directed the fund house to distribute Rs 9,122 crore among unit holders of the six schemes that were shut by the mutual fund house in April last year and said the distribution of funds need to be undertaken by the SBI Mutual Fund and completed within 20 days.