Additional affidavit filed by Franklin Templeton on the judgment given by Karnataka HC
6th October 2020
On 5th October, 2020 the Karnataka high court posted a group of petitions taxing the fetching up of six debt schemes of franklin Templeton, for the need of recording that FT asset management India private limited and FT trustees private limited have filed two affidavits. On 24th September the court gave a reserved judgement.
The chief justice Abhay Oka and justice Ashok S Kinagi has administered the Fund house to set out the affidavits to the advocates for the petitioners stating that “Only if the petitioners have any objection can file memo on record, so that cases can be again listed for considering their objections". The memo to that file can be attached if they don’t have any objections.
In April, an announcement was heard by Franklin Templeton that to wind up the six debts citing low liquidity. About of 3lakh investors evaluated to be contrived by this decision.