Franklin Templeton Asset Management (India) on Monday said the Securities Appellate Tribunal (SAT) has stayed Sebi's order, whereby the regulator had barred the asset management firm from launching any new debt scheme for two years. In addition, the regulator had asked Franklin Templeton to refund investment management and advisory fees to the tune of Rs 512 crore, including interest, collected with respect to its six debt schemes which are now shut. "With reference to the order issued by Whole Time Member(WTM) of Sebi on June 7, 2021, Franklin Templeton Asset Management (India) Pvt Ltd filed an appeal and an application for stay before the Hon'ble SAT. "After hearing the parties, the Hon'ble SAT has stayed the operation of the order passed by the WTM," a Franklin Templeton spokesperson said in a statement. The matter has been listed on August 30, 2021 for further directions, he added.
Sebi pointed out instances of misleading the investors by reporting incorrect data on investor complaints, instances of inappropriate utilisation of funds meant for investor education, such as spending on programmes meant for financial advisors, charging of expenses to the said funds for stationery items such as notebooks, planners and calendars, and charging of expenses without adequate records.
Tax Guru Anil Rego answers your personal income tax queries
Jio Financial Services, the demerged financial services unit of Reliance Industries, will be listed on bourses on August 21, according to an exchange notification. Jio Financial Services Ltd (JFSL) demerged from Reliance last month and is currently listed under a dummy ticker after its price discovery at Rs 261.85 but there is no trading happening in the scrip. The listing on BSE and NSE has been scheduled a day before FTSE Russell plans to drop JFSL from its indices.
Running a SIP plan for more than six years almost completely eliminates the chances of earning negative returns.
'Debt mutual funds are a good option now because interest rates are coming down.' 'Retail investors must put a majority portion of your money in short-term debt funds (1 to 3 years) and only a small portion in actively managed dynamic funds.'
Follow these to see how you make more money out of your investments
Sanjay Kumar Singh tells you what to watch out for when buying insurance and investing in MFs online.
Salil Dhawan explains how as you progress in your career you can also grow your money at a phenomenal pace if you start investing early.
Only if you are a conservative investor satisfied with index returns; but over long term actively managed funds give better returns in Indian markets
'A key reason for the strong interest in IPOs has been an increased focus on profitability and reasonable pricing of deals.'
Should taxpayers invest in Rajiv Gandhi Equity Saving Scheme to save tax? How much tax will they actually save? And what are the pros and cons you should check out before going for this scheme? Salil Dhawan offers his take.
GST will now apply to mutual funds, loan instalments and credit card dues.
The decision was taken in view of significant rise in imports of gold in recent years putting pressure on current account deficit.
'If you are ready to stomach the loss, you may invest 3-5 per cent of your portfolio in crypto assets.' 'Of this, 80-90 per cent should be in Bitcoin.'
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
Failure to do so leads to incorrect filing and under-reporting of income, with adverse consequences, advises Bindisha Sarang.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
'If individual stocks start falling 25% to 30% or more, then I doubt how many of them will be able to withstand that (kind of selloff). That is when you'll see panic coming in.'
Outflows are likely to continue, experts say, till such time as the markets see a significant correction.
Paving the way for domestic asset management companies (AMCs) to invest directly in real estate, the Securities & Exchange Board of India (Sebi) today unveiled the much-awaited guidelines for real estate mutual funds (REMFs), which mandated that at least 35 per cent of the corpus of a scheme be invested directly in real estate assets.
Sources say given the complexity involved in the process of creating a holding company, which will ultimately be the parent company of banking and other businesses, banks are going slow in acquiring stakes in insurance arms or mutual funds of other lenders.
The National Company Law Appellate Tribunal (NCLAT) on Tuesday stayed the order of NCLT Mumbai directing the lenders of DHFL to consider the offer by the debt-ridden mortgage firm's erstwhile promoter Kapil Wadhawan. A vacation bench of NCLAT comprising Acting Chairman Justice A I S Cheema and Member Technical V P Singh stayed the order passed by the Mumbai bench of the National Company Law Tribunal (NCLT). On May 19, NCLT Mumbai had directed the settlement plan offered by Wadhawan to be considered by the lenders of DHFL, one of the lawyers engaged in the matter said.
The Securities and Exchange Board of India (Sebi) on Monday relaxed the norms for valuing perpetual bonds. The norms, which had sought to value banks' deemed residual maturity of Basel III additional tier 1 (AT1) bonds as 100-year debt from April 1, were strongly opposed by the finance ministry. In a statement released on Monday, the regulator said the maturity would be 10 years until March 31, 2022, and would be increased to 20 and 30 years over the subsequent six-month period.
Some fund houses have modified the terms of their schemes. How does it impact you?
In a nearly 10-year-old case, Sebi on March 24 had banned Reliance Industries and 12 others from equity derivatives trading for one year, while accusing RIL of making 'unlawful gains'.
'The number of first-time investors into MFs can grow four times more than the current rate if we are able to accept the bank KYCs.'
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Nikunj Saraf, Vice President Choice Wealth, answers your mutual fund queries.
You can remit abroad or in India. Both entail their own risks.
DLF was asked to file an affidavit in this matter by Monday, after which SAT would issue directions on Wednesday (November 5) on whether the interim relief can be given.
Indices across Indian equity markets have edged towards new record highs before undergoing a small correction in the past few sessions. The National Stock Exchange Nifty has gained 20 per cent in the past year; mid-caps (up 33 per cent), small-caps (up 31 per cent), and micro-caps (up 44 per cent) have done better. Several factors have precipitated this rally.
Session-wise data indicates small investors have taken money off the table in more sessions than they have pumped in additional capital.
Rebalance the portfolio at least once a year to ensure it remains in sync with the target asset allocation.
Follow these and the your chances of earning higher returns will improve...
On becoming an NRI, legally you are required to inform all your banks and also all the companies where you have investments about the change in your status within a reasonable time.
ULIPs combine the benefits of an insurance policy and a market-linked investment
Priya Nair tells you how you can use technology to invest better and maximise returns.
