Franklin Templeton winding-up of 2020

Sat, 16 May 2026 00:00:00 +0000

The Franklin Templeton winding-up of 2020 refers to the decision by Franklin Templeton Asset Management (India) Private Limited, on 23 April 2020, to wind up six open-ended debt mutual fund schemes with combined assets under management of approximately Rs 28,000 crore and over 3 lakh investor folios. The closure was attributed to severe liquidity stress in the Indian corporate bond market following the COVID-19 pandemic and the subsequent national lockdown, compounded by pre-existing credit stress in the underlying portfolios from the 2018 IL&FS and 2019 DHFL credit events. The Franklin Templeton episode is the largest involuntary closure of open-ended mutual fund schemes in Indian mutual fund history and produced significant judicial proceedings up to the Supreme Court, sustained SEBI enforcement action, and a substantial package of post-event regulatory reforms that reshaped the Indian debt mutual fund framework.

Karvy Stock Broking

Sat, 16 May 2026 00:00:00 +0000

Karvy Stock Broking Limited was an Indian stockbroker, member of the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), and depository participant with both NSDL and CDSL , affiliated with the Karvy group based in Hyderabad. Karvy Stock Broking was the subject of one of the most consequential SEBI enforcement actions in modern Indian capital-markets history: on 22 November 2019, SEBI issued an ex-parte order under Section 11B of the SEBI Act, 1992 barring Karvy Stock Broking from taking new clients and freezing the broker’s operational ability to deal in client securities, following the discovery that the broker had pledged approximately Rs 2,000 crore of client securities without authorisation to raise loans for its own operational needs. The case precipitated a comprehensive regulatory reset of the relationship between stockbroker, depository participant, and registrar functions in India, with consequential reforms in 2020 to 2021 that fundamentally altered the structural framework under which retail securities are held.

Historical Events on WebNotes

Franklin Templeton winding-up of 2020

Karvy Stock Broking