Simply Save | Are the SEBI penalties against Franklin Templeton AMC enough? Lawyers of investors share their views

Jun 18, 12:35 PM
The Securities and Exchange Board of India (SEBI) has released several orders against Franklin Templeton Asset Management Company (FT AMC), which it plans to appeal against. 

These include the chief executive officer, chief investment officer, fund managers, compliance officer and the trustee company. 

SEBI went through the forensic audit of the six wound-up schemes before passing its orders. There is a clear message in these orders that the regulations should not only be followed in letter, but also in spirit. The intention behind a regulation should also be taken seriously, that seems to be SEBI’s message for mutual fund industry.

Moneycontrol’s Jash Kriplani talks to Paritosh Gupta of Gupta Law Associates and Abhinav Shrivastava, co-founding partner at GSL Chambers and advocate-on-record at Supreme Court, who represented investors against FT AMC. They share with us what they think about SEBI orders and whether the penalties are enough?