Supreme Court · 2021 INSC 333 · Decided 14 July 2021
Franklin Templeton Trustee Services Private Limited and Another v. Amruta Garg and Others ETC.
- Court
- Supreme Court of India
- Citation
- 2021 INSC 333 · [2021] 5 S.C.R. 559
- Case number
- CIVIL APPEAL No. 498/2021
- Decided
- 14 July 2021
- Bench
- S. ABDUL NAZEER, SANJIV KHANNA (2-judge bench)
- Outcome
- Directions issued
- Case type
- Civil
Headnote
Securities and Exchange Board of India (Mutual Funds) Regulation, 1996: Regns. 18(15)(c) and 39 to 42 - Interpretation of - Winding up of six mutual fund schemes - High Court interpreting Regn 18(15)(c) and Regn 39(2)(a) held that trustees to wind up a scheme under clause (a) to Regn 39(2) must muster the consent of the majority of the unitholders as per Regn 18(15)(c) - Case of SEBI, the trustees and the Asset Management Company that prior consent of the unitholders is not envisaged when the trustees, or SEBI directs
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