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India`s financial crime agency searches Franklin Templeton execs-sources BENGALURU - India's federal financial crime agency on Thursday conducted searches on Franklin Templeton India's former and current officers in Mumbai in relation to the closure of some funds in 2020, two sources told Reuters on Thursday. The Enforcement Directorate is conducting searches on Vivek Kudva, former Asia Pacific head of Franklin Templeton, his wife Roopa Kudva, who is also managing partner, Omidyar Network India, as well as on Santosh Kamath, chief investment office...
India`s financial crime agency searches Franklin Templeton execs-sources
India`s financial crime agency searches Franklin Templeton execs-sources
Source: Reuters
16/03/2023 12:28:49 PM
Franklin Templeton's shut schemes now have Rs 1,981 Cr cash for distribution The six shut debt schemes of Franklin Templeton Mutual Fund have Rs 1,981.02 crore of cash available for distribution to the unit holders of the schemes. So far, the fund house has distributed Rs 21,080.34 crore to the investors. Out of the Rs 1,981.02 crore available for distribution as of August 13, Franklin India Ultra Short Bond Fund has Rs 366.81 crore, Franklin India Short Term Income Plan has Rs 597.70 crore and Franklin India Income Opportunities Fund has Rs 440.92 crore, among ...
Franklin Templeton's shut schemes now have Rs 1,981 Cr cash for distribution
Franklin Templeton's shut schemes now have Rs 1,981 Cr cash for distribution
Source: IANS
17/08/2021 1:33:12 PM
Franklin Templeton returns Rs 21,080 cr to investors of 6 shut schemes  Franklin Templeton Mutual Fund has so far returned Rs 21,080 crore to the unit holders of its six shut debt funds. In a letter to investors, Franklin Templeton Asset Management (India) Pvt Ltd President Sanjay Sapre said that the cash available for distribution stands at Rs 1,111 crore as on July 31, 2021. "The six schemes have disbursed a total of Rs 21,080 crore to investors till date. This equals 84 per cent of the AUM as on April 23, 2020, and ranges from 62 per cent to 9...
Franklin Templeton returns Rs 21,080 cr to investors of 6 shut schemes
Franklin Templeton returns Rs 21,080 cr to investors of 6 shut schemes
Source: IANS
12/08/2021 9:21:20 AM
No new debt scheme till SAT disposes appeal, Franklin Templeton to SC The Supreme Court on Monday recorded that Franklin Templeton Asset Management India Pvt Ltd will not launch any new debt scheme till the disposal of its pending appeal before Securities Appellate Tribunal (SAT). In June this year, the SEBI had directed Franklin Templeton to refund investment management and advisory fees to the tune of Rs 512 crore, including interest, collected with respect to its six debt schemes which were shut down last year. The SAT had, however, found the SEBI's p...
No new debt scheme till SAT disposes appeal, Franklin Templeton to SC
No new debt scheme till SAT disposes appeal, Franklin Templeton to SC
Source: IANS
27/07/2021 9:59:48 AM
Franklin Templeton complies with conditions prescribed in SAT order Franklin Templeton Asset Management (India) has said that it has complied with the conditions prescribed by the Securities Appellate Tribunal (SAT) in its order pertaining to the restrictions imposed by SEBI on the fund house. On June 28, SAT had stayed SEBI's decision to bar Franklin Templeton India from launching new debt schemes for two years. In a letter to investors, Sanjay Sapre, the President, Franklin Templeton Asset Management (India) Pvt. Ltd. said: "The restriction o...
Franklin Templeton complies with conditions prescribed in SAT order
Franklin Templeton complies with conditions prescribed in SAT order
Source: IANS
18/07/2021 12:46:25 PM
Franklin fund exec says India regulator exceeded authority in banning him MUMBAI - A senior executive of U.S. money manager Franklin Templeton (FT) told an Indian appeals tribunal the country's market watchdog "overstepped" its powers by banning him from the securities market for unfair trade practices, a filing showed. Vivek Kudva, head of Asia Pacific distribution at FT, was barred last month by the Securities and Exchange Board of India (SEBI), which said he and his family members used non-public information to sell holdings worth about $4 ...
Franklin fund exec says India regulator exceeded authority in banning him
Franklin fund exec says India regulator exceeded authority in banning him
Source: Reuters
1/07/2021 12:03:50 PM
SAT grants interim relief to Franklin Templeton against SEBI orders The Securities Appellate Tribunal (SAT) on Monday granted interim relief to Franklin Templeton in terms of SEBI's recent orders against the fund house. The appellate tribunal will next hear the matter on August 30. SAT has stayed the SEBI order restraining Franklin Templeton from launching new debt schemes for two years. It has, however, asked the asset management company to deposit Rs 250 crore in three weeks in an escrow account. Commenting on the development, a Franklin Temple...
SAT grants interim relief to Franklin Templeton against SEBI orders
SAT grants interim relief to Franklin Templeton against SEBI orders
Source: IANS
28/06/2021 2:38:26 PM
Franklin Templeton returns Rs 17,777 cr to unit holders of 6 shut schemes Franklin Templeton Mutual Fund has said that the six shut debt schemes have returned Rs 17,777.59 crore to unit holders amounting to 71 per cent of the assets under management (AUM) as on April 23, 2020. In a statement, the fund house said that the cash available for distribution stands at Rs 580 crore as on June 15, 2021. The Trustee of Franklin Templeton decided to wind up six of our debt schemes in April 2020. The difficult decision was taken because the markets had become illiquid d...
Franklin Templeton returns Rs 17,777 cr to unit holders of 6 shut schemes
Franklin Templeton returns Rs 17,777 cr to unit holders of 6 shut schemes
Source: IANS
18/06/2021 1:58:51 PM
Franklin Templeton India's trustee and CEO fined for violating rules MUMBAI - India's market regulator fined Franklin Templeton India's trustee, chief executive and officials, including fund mangers, on Monday for violating rules while overseeing credit funds that unexpectedly shut down last year. The Securities and Exchange Board of India (SEBI) said chief executive Sanjay Sapre failed to address the risk of illiquid underlying portfolios while fund managers did not ensure funds were invested in the best interest of unitholders. It fined the fun...
Franklin Templeton India's trustee and CEO fined for violating rules
Franklin Templeton India's trustee and CEO fined for violating rules
Source: Reuters
15/06/2021 10:15:58 AM
Franklin Templeton APAC head Vivek Kudva may appeal against SEBI ban  A day after SEBI ordered a one-year ban on Vivek Kudva, the Head of Asia Pacific Distribution for Franklin Templeton, and his wife Roopa Kudva, from trading in the securities market, over insider trading, the key official of the fund house has said that he is considering approaching the Securities Appellate Tribunal (SAT) against the order. In a statement, Kudva said that his personal transactions in the two shut schemes were conducted in good faith and with no intent to gain unfair ...
Franklin Templeton APAC head Vivek Kudva may appeal against SEBI ban
Franklin Templeton APAC head Vivek Kudva may appeal against SEBI ban
Source: IANS
8/06/2021 12:41:12 PM
Franklin Templeton Director, wife banned from stock markets for a year Markets regulator SEBI has debarred Franklin Templeton AMC Director Vivek Kudva and his wife, Roopa Kudva for one year from the securities following an investigation. A fine of Rs 4 crore has been slapped on Vivek Kudva and Rs 3 crore on his wife. They have also been asked to return an amount of Rs 22.64 crore in an escrow account to the SEBI, which will be released to them along with the cash being disbursed to other investors. This is the amount they received on redemption before the ...
Franklin Templeton Director, wife banned from stock markets for a year
Franklin Templeton Director, wife banned from stock markets for a year
Source: IANS
8/06/2021 8:45:48 AM
Franklin Templeton likely to approach SC over Karnataka HC order Franklin Templeton India may appeal in the Supreme Court against the Karnataka High Court's order regarding the winding up of the six schemes. In a letter to the investors, Sanjay Sapre, President, Franklin Templeton Asset Management (India) Pvt Ltd said that the company will also seek directions from the court regarding return of cash of over Rs 5,200 crore currently accumulated in the four cash positive schemes, and with regard to any additional cash it may receive while the matter r...
Franklin Templeton likely to approach SC over Karnataka HC order
Franklin Templeton likely to approach SC over Karnataka HC order
Source: IANS
25/10/2020 4:15:04 PM