Franklin Saga Drags On

Franklin has been in the news quite a bit due to the decision to wind-up six of its funds. After deciding to wind-up the funds the fund house was planning to get unit holder’s consent for disbursing cash from liquidated papers. However, some investors did not like the decision and started legal proceedings against the fund house. Unit holders filed cases in multiple High Courts. Now we all know how long courts take to pass judgement on just one case. Given there were multiple cases I was not very positive that something will happen any time soon. However, the Supreme … Continue reading “Franklin Saga Drags On”

The Franklin Wind-up Saga

In a recent post, I mentioned that Franklin has started the e-voting process. Investors in the AMC’s winding-up funds have started receiving emails about e-voting details and schedule. The email mentioned that the voting was supposed to happen between June 9 and 12. I was hoping that Franklin will be able to start paying some of the investors either in June or July soon after the e-voting. But it does not seem like that will happen. In a recent news, it is known that a petition was filed in Gujarat High Court (HC) against Franklin. The HC then stayed the … Continue reading “The Franklin Wind-up Saga”

Update On Franklin Funds That Are Winding Up

It does not seem like the problems with Franklin are going to end anytime soon. They are in news everyday for some reason or the other. The first issue I can see is that the investors will not receive any money in May. The reason? Franklin has not yet started the voting process. And until that happens I don’t think they can return anything to the investors. If you recall, I was hoping Franklin will return something in May. However, all hope is not lost. Franklin has started the voting process. Hopefully we will get something in June. Please make … Continue reading “Update On Franklin Funds That Are Winding Up”