Wind up of six Mutual Fund Schemes by Fanklin should be with consent of unit-holders: HC

SEBI Vs Franklin Templeton Trustees Services Pvt. Ltd (Karnataka High Court) i) We hold that no interference is called for in the decision of the Trustees taken on 23rd April 2020 of winding up the said six Schemes; ii) We hold and declare that the decision of the Trustees (the Franklin Templeton Trustee Services private Limited) to wind up six Schemes mentioned in paragraph-1 of the Judgment by taking recourse to sub-clause (a) of clause (2) of Regulation 39 of the Mutual Funds Regulations cannot be implemented unless the consent of the unit-holders is obtained in accordance with sub-clause (...