Discover and read the best of Twitter Threads about #franklintempleton
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#Investors should avoid knee-jerk reaction as the investigation is still underway & @AxisMutualFund has already sacked the concerned officials from their responsibilities.
Impacted #mutualfund schemes (image enclosed) haven't been recommended by us at #MasterMindFinnAsset (1/n)
Impacted #mutualfund schemes (image enclosed) haven't been recommended by us at #MasterMindFinnAsset (1/n)
Extent of notional losses that may have occurred to the #investors in these schemes can only be estimated after the probe. Investors may have to wait for further action, disclosures & announcements from the fund house & the regulator around this matter.(2/n) #axismutualfund
Unfortunately @AxisMutualFund is witnessing knee-jerk reaction of #investors via redemptions or stoppage of SIPs/ STPs. Focus of facts not rumors about the management. Such rumors have been there from past 2 years for @FTIIndia as well. (3/n)
Thread On Industrial Progress Of Andhra Pradesh In Last 2.5 Years
#HBDCMYSJagan #HBDYSJagan
#HBDManOfMassesYSJagan
#HBDCMYSJagan #HBDYSJagan
#HBDManOfMassesYSJagan
కొప్పర్తి సెజ్ - రాయలసీమకు పారిశ్రామిక మణిహారం !
6914 ఎకరాల్లో కొప్పర్తి ఇండస్ట్రియల్ హబ్ ని నిర్మిస్తుండగా.. 3155 ఎకరాల్లో మౌలిక వసతుల నిర్మాణం పనులు శరవేగంగా పూర్తయ్యాయి
ఈ నెల 23న కొప్పర్తి సెజ్ ను ప్రారంభించనున్న సీఎం
#HBDYSJagan #HBDCMYSJagan
#HBDManOfMassesYSJagan
6914 ఎకరాల్లో కొప్పర్తి ఇండస్ట్రియల్ హబ్ ని నిర్మిస్తుండగా.. 3155 ఎకరాల్లో మౌలిక వసతుల నిర్మాణం పనులు శరవేగంగా పూర్తయ్యాయి
ఈ నెల 23న కొప్పర్తి సెజ్ ను ప్రారంభించనున్న సీఎం
#HBDYSJagan #HBDCMYSJagan
#HBDManOfMassesYSJagan
🔸 విశాఖలో రూ. 2500 కోట్ల తో నిర్మిస్తున్న ATG Tyres మానుఫ్యాక్చరింగ్ ప్లాంట్ పనులు శరవేగంగా సాగుతున్నాయి
★ 2014 రాష్ట్ర విభజన తర్వాత ఉత్తరాంధ్రలో నిర్మిస్తున్న అతి పెద్ద ప్రాజెక్ట్ ఇదే
#HBDYSJagan #HBDCMYSJagan
#HBDManOfMassesYSJagan
#HBDManOfMassesYSJagan
★ 2014 రాష్ట్ర విభజన తర్వాత ఉత్తరాంధ్రలో నిర్మిస్తున్న అతి పెద్ద ప్రాజెక్ట్ ఇదే
#HBDYSJagan #HBDCMYSJagan
#HBDManOfMassesYSJagan
#HBDManOfMassesYSJagan
We have maintained our stand since the very begining that @FTIIndia has not committed fraud, No scam, no #investment has been made in junk bonds, not committed a crime. We still stand by the same. (1/n) #franklintempleton #mutualfunds #investments #DebtFunds #DebtMutualFunds
Payments are even coming from those securities whom naysayers claimed are junk bonds, which we told was not the case but these #investors were being mislead by them & even now they are trying to prove their mischevious intentions. Ultimately Action Wins, not noise. (2/n) @bsindia
As far as @SEBI_India order goes we will not say much as the matter is inbetween the regulator & @FTIIndia. Both details are out in public domain already. But, the forensic audit has been across all activities of #franklintempleton which includes each & every paper. (3/n)
Petition in #MadrasHighCourt raises concern that the Economic Offences Wing of TN Police is not manned by trained personnel with sufficient technical knowledge such as in accounting, auditing, market conditions etc. to probe case against #FranklinTempleton. @FTIIndia
#MadrasHighCourt observed today that it is necessary that the “Economic Offences Wing in the State police is beefed up, so to say, with appropriate personnel", while issuing notice in the plea.
SEBI, Enforcement Directorate added as parties in the matter
@SEBI_India @dir_ed
SEBI, Enforcement Directorate added as parties in the matter
@SEBI_India @dir_ed
Chief/Home Secretary of State to file a report in four weeks suggesting measures to “introduce a degree of specialisation in the EOW of the State police, particularly in the manner of recruitment or even engagement as consultants or the like.”
#MadrasHighCourt
#FranklinTempleton
#MadrasHighCourt
#FranklinTempleton
Franklin Templeton hearing to resume today before Supreme Court bench of Justices S Abdul Nazeer and Sanjiv Khanna
#FranklinTempleton
#FranklinTempleton
Hearing commences.
Senior Counsel Harish Salve starts submissions.
Senior Counsel Harish Salve starts submissions.
Salve says that a lot misleading of allegations have been made including the one that we violated SEBI cap. We will address all that: Salve
My submission is that Covid was not necessarily an issue and I am proceeding on that basis: Arora.
#FranklinTempleton
#FranklinTempleton
#SupremeCourt continues hearing plea by #FranklinTempleton challenging Karnataka HC restraining winding up of 6 of its schemes without obtaining the consent of its investors by a simple majority. Matter before Bench headed by Justice Abdul Nazeer.
Before my learned colleague, starts may make a submission: Senior Adv Meenakshi Arora for Chennai Financial Management Society
#FranklinTempleton
#SupremeCourt
#FranklinTempleton
#SupremeCourt
#SupremeCourt Bench led by Justice Abdul Nazeer hears plea by #FranklinTempleton challenging Karnataka High Court order which restrained winding up of six of its debt schemes without obtaining the consent of its investors by a simple majority #FranklinTempleton
Senior Advocate Ravindra Srivastava: The winding up decision is being challenged for being mala fide.
#SupremeCourt
#SupremeCourt
Senior Advocate Srivastava: If there is a division problem it does not justify the restriction on redemption. Shares the below note with the bench.
Supreme Court bench of Justices Abdul Nazeer and Sanjiv Khanna to resume hearing issues related to objection to the e-voting process for winding up Franklin Templeton's six mutual fund schemes and distribution of money to the unitholders.
#SupremeCourt
#FranklinTempleton
#SupremeCourt
#FranklinTempleton
Justice Sanjiv Khanna: Section 41(1) states that while winding up either AMC will look into it or third party. Other issues of explanatory memorandum etc it has already been made
Advocate Nithyaesh Natraj: The threshold of Section 39 will apply
Advocate Nithyaesh Natraj: The threshold of Section 39 will apply
Justice Khanna: We are only on the voting process
Adv Natraj: You had asked whether we want our money back. Ofcourse we want it back. But the question is how. The open ended scheme ensures me demanding the money on my whims and fancy.
Adv Natraj: You had asked whether we want our money back. Ofcourse we want it back. But the question is how. The open ended scheme ensures me demanding the money on my whims and fancy.
Supreme Court bench of Justices Abdul Nazeer and Sanjiv Khanna hears issues related to objection to the e-voting process for winding up Franklin Templeton's six mutual fund schemes and distribution of money to the unitholders.
#SupremeCourt
#FranklinTempleton
#SupremeCourt
#FranklinTempleton
Advocate Puneet Jain argues for investors: What they are saying is decision of unitholder is approved but said under Article 226 HC said it cannot get into veracity of the decision. They are asking for a modification of an individual contract.
Jain: If a person does not agree then relationship with Trustees continue which is pay on demand.
Great news for #Investors. Verdict is out in #FranklinTempleton saga:
YES for #Winding Up all 6 schemes.
Now Goal Post should change and focus on giving mandate to @FTIIndia for liquidating assets. Here is my Thread on this subject:
YES for #Winding Up all 6 schemes.
Now Goal Post should change and focus on giving mandate to @FTIIndia for liquidating assets. Here is my Thread on this subject:
Good news for #Investors of #franklintempleton :
-Total Cash Collections of all 6 schemes Rs.13789 crs +
- 5 out of 6 schemes cash positive
- only 6% of AUM left as borrowings in Income Ops
-Total Cash Collections of all 6 schemes Rs.13789 crs +
- 5 out of 6 schemes cash positive
- only 6% of AUM left as borrowings in Income Ops
All this without any active intervention/selling/monetizing.
Imagine implications to positive liquidity creation when Fund Manager is allowed to actively Liquidate/Sell securities
Imagine implications to positive liquidity creation when Fund Manager is allowed to actively Liquidate/Sell securities
#FranklinTempleton UST investors - UST has been making a steady recovery. No defaults so far everything going steadily. Why jinx it by voting NO and taking a fire sale risk?
#FranklinTempleton UST investors
Look at their projections on April 30 and actual values on December 15th for UST
Look at their projections on April 30 and actual values on December 15th for UST
#FranklinTempleton UST investors
The NAV has also become steady like earlier. Payments are flowing in regularly. Some prepayments were made
The NAV has also become steady like earlier. Payments are flowing in regularly. Some prepayments were made
#FranklinTempleton voting myths busted
#FranklinTempleton voting myths busted
#FranklinTempleton voting myths busted!!!
#FranklinTempleton investors - here is why you should vote YES for winding up. These investors also feel so
#FranklinTempleton - Investors seem to be divided into 2 camps
1) Vote YES to avoid a fire sale
2) Vote NO because @FTIIndia is a fraudster and has mismanaged funds
1) Vote YES to avoid a fire sale
2) Vote NO because @FTIIndia is a fraudster and has mismanaged funds
The people who are supporting the windup are worried because if funds open then predicting who will get what is impossible.
#FranklinTempleton - and that is True. When funds open we don't know how many investors have online access to redeem, how many will start redeeming, what algorithm does FT have to prioritize redemptions, what system errors will happen due to high traffic.
#FranklinTempleton investors - our primary objective should be to safeguard our investment and not punish FT. Litigations will and should continue. But trying to teach FT a lesson by voting NO is shooting ourselves in the foot!!! Fire sale will destroy our investment
#FranklinTempleton investors - FT is anyways under a scanner. They cannot escape if they are doing anything wrong. But if Funds re-open , no one can save us and we will be doomed by our own choices
#FranklinTempleton investors - I know that everyone that FT has cheated us by illegally winding funds, however the point is that if we reopen now - everyone will redeem and it will be a panic situation where everyone will loose. A better option is to let the funds wind up orderly
#FranklinTempleton investors - our primary objective should be to safeguard our investment and not punish FT. Litigations will and should continue. But trying to teach FT a lesson by voting NO is shooting ourselves in the foot!!! Fire sale will destroy our investment.
#FranklinTempleton investors - FT is anyways under a scanner. They cannot escape if they are doing anything wrong. But if Funds re-open , no one can save us and we will be doomed by our own choices
#FranklinTempleton litigations will continue and I want even more litigations on Franklin. But I will vote YES for winding up to save my money from fire-sale
Supreme Court bench led by Justice Abdul Nazeer hears plea by Franklin Templeton Trustee Services Pvt Ltd challenging a Karnataka HC order which restrained winding up of six of its debt schemes without obtaining the consent of its investors by a simple majority
#SupremeCourt
#SupremeCourt
Senior Adv Meenakshi Arora appears for small investors: SEBI does not have a clear policy for the small investors ... It is being said we will benefit but how no one has laid down.
Justice Sanjiv Khanna: This has been dealt in the impugned order
Justice Sanjiv Khanna: This has been dealt in the impugned order
Senior Adv Arora: How does a unit holder participate without making an informed decision?
SC: we have heard you but we are not accepting this
Senior Adv Shyam Divan appears for Chennai Financial Markets and Financial Accountability: notice needs to be issued.
SC: we have heard you but we are not accepting this
Senior Adv Shyam Divan appears for Chennai Financial Markets and Financial Accountability: notice needs to be issued.
The Fact is simple #franklintempleton has tried & is trying hard in the larger interest of #investors since day one. (1)
@bsindia @livemint @EconomicTimes @ETNOWlive @thetribunechd @DainikBhaskar @AmarUjalaNews @businessline @BloombergQuint @CNBC_Awaaz @CNBCTV18Live @NDTVProfit
@bsindia @livemint @EconomicTimes @ETNOWlive @thetribunechd @DainikBhaskar @AmarUjalaNews @businessline @BloombergQuint @CNBC_Awaaz @CNBCTV18Live @NDTVProfit
Time & again most #MFDs & FT itself letting Actual Investors of these 6 schemes know that even in times of #COVID they have accumulated more than ₹11000 crores without #monetization but still few people are having unnecessary doubts. (2)
I personally believe that if #History will be written, the #historians will focus on the solution not on the problem.
Saying Yes, to both Winding Up Consent & Active #Monetization is only & solely in the best possible move for #investors. (3)
Saying Yes, to both Winding Up Consent & Active #Monetization is only & solely in the best possible move for #investors. (3)
Karnataka HC will today pass its verdict in a batch of pleas challenging the winding up of 6 debt Schemes of Franklin Templeton.
@RBI
@SEBI_India
@RBI
@SEBI_India
The petitions challenging the winding up of debt schemes were transferred from the Delhi High Court, the Gujarat High Court, and the Madras High Court.
@RBI
@SEBI_India
@RBI
@SEBI_India
The Court had began hearing the submissions of parties from August 12 and closed the hearing on September 24.
Karnataka HC will today pass order, at 3:45 pm in a batch of pleas related to winding up of six Franklin Templeton Mutual Fund Debt Schemes.
Chief Justice Abhay S Oka and Justice Ashok S Kinagi will pass the order.
@RBI
@SEBI_India
@Frankli05227002
#franklintempleton
Chief Justice Abhay S Oka and Justice Ashok S Kinagi will pass the order.
@RBI
@SEBI_India
@Frankli05227002
#franklintempleton
The petitions challenging the winding up of debt schemes were transferred from the Delhi High Court, the Gujarat High Court, and the Madras High Court.
@RBI
@SEBI_India
@Frankli05227002
@RBI
@SEBI_India
@Frankli05227002
The Court had began hearing the submissions of parties from August 12 and closed the hearing on September 24.
The Karnataka High Court will shortly resume the hearing on plea challenging validity of Regulations 39 to 41 of #SEBI (Mutual Fund) Scheme, 1996 relating to winding up on MF schemes.
@amrutanikam26 @sh_abhinav @LiveLawIndia @barandbench #gslupdates #franklintempleton
@amrutanikam26 @sh_abhinav @LiveLawIndia @barandbench #gslupdates #franklintempleton
Bench will today be hearing the arguments on behalf to SEBI. Arguments to be addressed by Mr. Arvind Dattar, Senior Advocate.
@LiveLawIndia @barandbench #gslupdates #franklintempleton #franklinupdate
@LiveLawIndia @barandbench #gslupdates #franklintempleton #franklinupdate
Bench: Can the order appointing the forensic auditor be placed on record?
@LiveLawIndia @barandbench #gslupdates #franklintempleton #franklinupdate
@LiveLawIndia @barandbench #gslupdates #franklintempleton #franklinupdate
