2020
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Kerala
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Odisha
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Karnataka
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Assam
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Detailed explanation-1: -The apex court’s judgement came on pleas, including the appeal filed by Franklin Templeton, against the Karnataka High Court order restraining the company from winding up its six of mutual fund (MF) schemes without obtaining the consent of its investors by a simple majority.
Detailed explanation-2: -The main problem with the six debt funds the investment manager wound up was a basket of illiquid securities it found impossible to sell in the days leading up to their closure. Although many debt funds took credit risks, Franklin Templeton ran a high-yield strategy across many schemes.
Detailed explanation-3: -Franklin Templeton had wound up six debt schemes: Franklin India Ultra Short Bond Fund, Franklin India Low Duration Fund, Franklin India Short Term Income Fund, Franklin India Income Opportunities Fund, Franklin India Dynamic Accrual Fund, and Franklin India Credit Risk Fund, in April 2020.
Detailed explanation-4: -Not leaving India, Franklin Templeton will rebuild the brand in the country.