The SAT had earlier stayed SEBI's decision to restrain Franklin Templeton from launching any new debt schemes for a period of 2 years and to refund a little over Rs 512 crore.
The apex court had on 2 February ordered that Rs 9,122 crore be disbursed within 3 weeks to the unit holders of the schemes, in proportion to the holders' interest in the assets.
For years now, faith in the integrity of India's markets has hemorrhaged, with everyone putting own commercial interests above — and often against — those of investors.
The top court had on 9 December asked SEBI to appoint an observer for overseeing the e-voting process with regard to winding up Franklin Templeton's six mutual fund schemes.
Franklin Templeton shut six of its fixed-income and credit-risk funds run in India in April, locking in Rs 308 billion of investor monies following a liquidity crisis.
The hurdles facing India’s biggest-ever forced fund closure means about 300,000 unitholders may have to wait longer to recoup the money invested in the six frozen funds.
The company's India unit had shut six debt schemes last month in the country’s biggest-ever fund freeze, which triggered shock waves in local credit markets.
India’s situation is contrary to global markets where junk bond sales are thriving after monetary authorities said they would buy such securities directly.
On the first episode of Two Much With Kajol and Twinkle, Aamir Khan and Salman Khan were confronted with another hypocrisy: age gaps. And they didn't come out looking good.
SEBI probe concluded that purported loans and fund transfers were paid back in full and did not amount to deceptive market practices or unreported related party transactions.
While the IAF remains committed to the Tejas programme and has placed orders for 180 Tejas Mk1A, the force is eagerly waiting for the Tejas Mk 2 version.
What Munir has achieved with Trump is a return to normal, ironing out the post-Abbottabad crease. The White House picture gives us insight into how Pakistan survives, occasionally thrives and thinks.
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