Faced with regulatory action, the fund house’s latest threat to quit India if penalized only adds to its long list of missteps
There’s no other way to say this. Franklin Templeton’s actions now smack of entitled behaviour and aren’t, in any way, beneficial to any of the parties involved in the sordid mess triggered by its shutting down six of its debt mutual fund schemes in India last April. Not the fund house. Not the Securities and Exchange Board of India. And certainly not the confidence of thousands of investors who have placed their trust in the company.
In a recent bizarre development, the US-headquartered asset management company used diplomatic channels to seek a “just and fair” hearing in the ongoing investigation …
Jayshree is a former writer at The Morning Context. As journalist, she had nearly a decade of experience across Mint, Business Standard and Bloomberg TV India. The bulk of her career has been devoted to tracking the capital markets regulator, exchanges, regulatory policies, financial scams and corporate governance issues. One of her biggest breaking stories was her incisive coverage of the colocation scam which put the lapses at NSE in the public domain.
jayshree@mailtmc.com