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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Franklin Templeton's unpaid brokerage in the six debt schemes is another unsolved puzzle. The futility of the legal fight between Tata Group and Mistry clan.
Editor's note: If you thought there were no more skeletons left in Franklin Templeton India’s closet, you need to think again. Having written a fair bit on the unethical behavior of its top management and fund managers in the run-up to the closure of its six debt mutual fund schemes, even I thought I was done with the asset management company for a while. But there is some new information that’s come to light. We will get to it in a bit. I’d like to state at the outset that the Rs 15,000-odd crore which has come into Franklin Templeton’s six wound up schemes through prepayments, maturities and sales can, by no means, be discounted. However, the narrative needs some course correction here. Returning money to investors without haircuts is not a favour but the bare minimum expected of an AMC. And, by no stretch of imagination, does it give it a clean bill of health with regard to mismanagement and unethical behavior. The other big event of the past fortnight from this newsletter’s point of view was the culmination of the …
The central bank’s shift to a 100% collateral requirement threatens to erode leverage, reduce volumes and force a consolidation across prop desks.
The Tata Group’s silence and absence from Ahmedabad on the first anniversary of India’s worst air disaster risks putting a dent in its much-vaunted value system.
While the regulator’s interim order alleges massive irregularities, the long arc of unfinished probes, hearings and appeals makes closure distant.
