Supreme Court bench comprising of Justices Abdul Nazeer and Sanjiv Khanna have directed the fund house to distribute the money to unitholders within twenty days from today.
Earlier, Franklin Templeton Mutual Fund had updated the unitholders that its six shut schemes have received Rs 14,391 crore from maturities, pre-payments and coupon payments since their closing down in April.
Franklin Templeton Mutual Fund shut six debt mutual fund schemes on April 23, citing redemption pressures and lack of liquidity in the bond market.
Individually, Franklin India Ultra Short Bond Fund, Franklin India Low Duration Fund, Franklin India Dynamic Accrual Fund, Franklin India Credit Risk Fund and Franklin India Short Term Income Plan have 65 per cent, 53 per cent, 41 per cent, 27 per cent and 11 per cent of their AUM in cash, respectively.
