Franklin Templeton: Supreme Court asks Sebi to appoint observer for e-voting

The Supreme Court on Wednesday maintained its stay on redemptions from six debt schemes that Franklin Templeton Trustee Services proposed to wind up on April 23, but asked Sebi to appoint an observer for overseeing the e-voting process scheduled between December 26 and 29.

The apex court had last week allowed the fund house to hold meeting with unitholders so as to get their consent/approval for winding up of the schemes.

A Bench comprising Justices S Abdul Nazeer and Sanjiv Khanna, while asking Sebi to appoint an observer, told Franklin to submit voting results in a sealed cover. It also asked Sebi to file in a sealed cover the final report of the forensic audit it had done on Franklin Templeton.