Comments
Franklin Templeton has received ₹698 crore in six of its suspended debt schemes during the first half of this month, taking the overall inflow into these schemes to ₹7,184 crore.
Four funds including Franklin India Ultra Short Bond Fund, Dynamic Accrual, Low Duration and Credit Risk funds have accumulated ₹3,602 crore, ₹452 crore, ₹292 crore and ₹127 crore in cash for distribution among unitholders, subject to a successful unitholder vote.
Borrowing levels in Short Term Income Plan at ₹1,003 crore and Income Opportunities at ₹460 crore continue to come down steadily, said the fund house in a statement.
Also read: Franklin debt funds get ₹2,206 cr in Aug
Further to the decision of the Delhi High Court, the Debenture Trustees sold the entire shares of Zee Entertainment Enterprises and recovered ₹92.35 cr (across four schemes), which is slightly higher than the value at which Essel Infraprojects’ NCDs were valued in these schemes, it said.
“We will continue our efforts to recover the outstanding investment proceeds in the best interest of the unitholders,” said Franklin Templeton.
The e-voting and unitholders’ meet continue to remain suspended till further directions from the Karnataka High Court. Active monetisation of assets of the schemes and distribution of investment proceeds to the unitholders will be possible only after successful e-voting, it said.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.