Rs 15 cr penalty on Franklin MF officials, trustee

New Delhi, June 14

Markets regulator SEBI on Monday imposed a penalty totalling Rs 15 crore on senior officials of Franklin Templeton AMC and its trustee for violating regulatory norms in the case of winding up of six debt schemes in 2020.

A fine of Rs 3 crore has been levied on Franklin Templeton Trustee Services Pvt Ltd and Rs 2 crore each on Franklin Asset Management (India) Pvt Ltd president Sanjay Sapre and its chief investment officer Santosh Kamat. In addition, the regulator imposed a penalty of Rs 1.5 crore each on Kunal Agarwal, Sumit Gupta, Pallab Roy, Sachin Padwal Desai and Umesh Sharma, who were the fund managers at the time of violation, and Rs 50 lakh on Saurabh Gangrade, who was the chief compliance officer at that time. — PTI

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