[Franklin Templeton debt schemes] Consent of unitholders should be sought for winding up, post publication of notice: Supreme Court

The top court also dismissed a challenge to the vires of the Mutual Funds Regulations, stating that in case the trustees seek winding up wrongfully, SEBI can look into the same.
Justices Abdul Nazeer and Sanjiv Khanna
Justices Abdul Nazeer and Sanjiv Khanna

The Supreme Court today held that consent of unitholders under a debt scheme will be required for winding up of the scheme and that such consent will be required after notice of the winding up has been published (Franklin Templeton Trustee Services v. Amruta Garg & Ors).

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