[FINANCIAL NEWS] Markets regulator Sebi on Saturday said it had on December 18 appointed Taruvai Subayya Krishnamurthy as an observer to oversee the e-voting process for winding up of Franklin Templeton’s six mutual fund schemes.
The apex court had on December 9 asked the Securities and Exchange Board of India (SEBI) to appoint an observer for overseeing the e-voting process, scheduled between December 26-29. Sebi has appointed Shri Taruvai Subayya Krishnamurthy, the former Chief Election Commissioner of India as the Observer on December 18, 2020,” Sebi said. The six schemes are Franklin India Low Duration Fund, Franklin India Ultra Short Bond Fund, Franklin India Short Term Income Plan, Franklin India Credit Risk Fund, Franklin India Dynamic Accrual Fund and Franklin India Income Opportunities Fund. Franklin Templeton MF announced closure of these six debt mutual fund schemes on April 23, citing redemption pressure and lack of liquidity in the bond market.