Karnataka High Court
Karnataka High Court
Litigation News

Franklin Templeton debt schemes petitions: Karnataka HC issues notice to Centre, SEBI and Franklin Templeton group of companies

The Court directed all parties to file their responses by July 22. Rejoinders to the responses are to be filed by July 29.

Rintu Mariam Biju

The Karnataka High Court today issued notice in a batch of petitions related to the winding up of Franklin Templeton Mutual Fund’s six debt schemes (Amruta Garg v. Union of India).

Formal notice was issued to the Central government, the Securities Exchange Board of India (SEBI) and the Franklin Templeton group of companies.

On June 19, the Supreme Court had directed the transfer of all petitions related to the winding up of six Franklin Templeton India debt schemes from the High Courts of Delhi, Madras and Gujarat to the Karnataka High Court within 15 days.

The Apex Court had further urged the Karnataka High Court Chief Justice to hear the matters himself, and dispose of the same within three months.

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