InvestorQ : What is the latest on the Templeton Case, wherein SEBI had put the restriction?
Katherine Gonsalves made post

What is the latest on the Templeton Case, wherein SEBI had put the restriction?

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rhea Babu answered.
5 months ago
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SEBI has now moved the Supreme Court of India against the SAT order dated 28 June. It may be recollected that SEBI had not only stayed the SEBI order but had also reduced the penalty to be deposited by the AMC. In fact, it had allowed the AMC to just deposit just Rs.250 crore against the SEBI imposed penalty of Rs.512 crore. The stay pertained to the SEBI order instructing barring Templeton AMC from launching new debt schemes in India for 2 years.

SAT had called the decision of SEBI arbitrary and pre-emptive. However, SEBI had already told in its statement that the action was taken to protect the interest of the small investors. With the winding up of the 6 beleaguered schemes under progress, SEBI has attacked the SAT decision as being excessive. SEBI had accused the AMC and its key personnel of violating basic trust of unitholders and also fund ethics. SEBI has decided to take the SAT head on.

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