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Franklin Templeton shut funds: Ex-CEC appointed observer for e-voting
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SME Times News Bureau | 27 Dec, 2020
The Securities and Exchange Board of India (SEBI) has appointed former
Chief Election Commissioner (CEC) Taruvai Subayya Krishnamurthy as the
observer for the e-voting process of unit holders of six shut schemes of
Franklin Templeton Mutual Fund.
A SEBI statement said the appointment was made on December 18, 2020, for the e-voting process scheduled from December 26 to 29.
The
capital market regulator also constituted a technical assistance team
to assist the observer comprising of B.N. Sahoo, Chief General Manager,
SEBI; Nayana Ovalekar, Chief Operating Officer of Central Depository
Services Limited; K. Sriram , Practising Company Secretary and
Scrutiniser; M. Krishna and Ch. E. Sai Prasad, Assistant Directors of
the Central Forensic Science Laboratory, Hyderabad.
Franklin
Templeton have come up with a statement on the appointment of the
observer and the assisting team along with contact details of the
observer.
The statements come a day after the Chennai Financial
Markets and Accountability (CFMA), an organisation fighting for the
cause of investors, moved an urgent application in the Supreme Court
against SEBI over not appointing an observer to oversee the e-voting by
Franklin Templeton Mutual Fund (FTMF) in terms of the court's December 9
order.
In its December 9 order, the apex court directed the
markets regulator to appoint an observer to oversee the entire e-voting
process by Franklin Templeton to be held between December 26 and 29.
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