Lawyered Legal News powered by Incourt app

Don't Wind Up 6 Schemes Without Investors' Consent, HC Tells Franklin Templeton

Posted under Business, Legal, by Neha Sonker / 21 minutes ago

The Karnataka HC ruled that FTMF will need to obtain prior consent of the unit holders before winding up six debt fund schemes. Franklin Templeton Mutual Fund one of India's most prominent mutual fund houses had shut six debt schemes in India amounting to about ₹ 28,000 crore from April 23, citing lack of market liquidity and redemption pressures arising from the Covid-19 pandemic.

To Maximize Liquidity For MSMEs, Govt May Extend Credit Scheme Deadline

Posted under Business, Top Stories, by Neha Sonker / 2 hours ago

The government plans to extend the deadline for ECLGS for MSMEs beyond October 31 in case the targeted loan sanction amount of Rs 3 lakh crore is not achieved, sources said. Launched on May 23, the ECLGS is open until October 31 or until Rs 3 lakh crore has been sanctioned, whichever is earlier.

More PSUs For Sale; NITI Aayog Starts Work To Identify PSE

Posted under Business, Legal, by Neha Sonker / 3 hours ago

NITI Aayog has started groundwork to select the next batch of public sector enterprises for strategic sale and disinvestment. Different ministries would recommend names of the public enterprises that can be considered for sale. A preliminary meeting would be held at NITI Aayog to identify more companies, according to a report in The Economic Times.

Franklin MF May Move SC On Fund Closures

Posted under Business, Legal, by Neha Sonker / 4 hours ago

Franklin Templeton Mutual Fund, which was asked by the Karnataka high court to take investors’ permission to shut six of its debt schemes, indicated that it may move the Supreme Court on some of the points in the order. Chennai Financial Markets & Accountability, an investors’ association, also plans to move the SC against the order.

NBFCs Ask RBI Again To Open TLTRO Window To Access Funds

Posted under Business, Regulatory, by Neha Sonker / 23 hours ago

NBFCs have again called on the RBI to give them access to the on-tap TLTRO window, which provides long-term funds to banks at the policy rate. Despite the RBI introducing several tools to prop up bank funding to non-banks, the latter have been complaining of a persistent lack of liquidity, especially the smaller ones.