The Karnataka High Court will shortly resume the hearing on plea challenging validity of Regulations 39 to 41 of #SEBI (Mutual Fund) Scheme, 1996 relating to winding up on MF schemes.

@amrutanikam26 @sh_abhinav @LiveLawIndia @barandbench #gslupdates #franklintempleton Bench will today be hearing the arguments on behalf to SEBI. Arguments to be addressed by Mr. Arvind Dattar, Senior Advocate.

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The Karnataka High Court will shortly resume the hearing on plea challenging validity of Regulations 39 to 41 of #SEBI (Mutual Fund) Scheme, 1996 relating to winding up on MF schemes.

@amrutanikam26 @sh_abhinav @LiveLawIndia @barandbench #gslupdates #franklintempleton The Karnataka High Court will hear the arguments on the Impleadment application which was filed before the Gujarat High Court.

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The Karnataka High Court will shortly resume the hearing on plea challenging validity of Regulations 39 to 41 of #SEBI (Mutual Fund) Scheme, 1996 relating to winding up on MF schemes.

@amrutanikam26 @sh_abhinav @LiveLawIndia @barandbench #gslupdates #franklintempleton The bench will today hear the Criminal writ petition transferred from Chennai.

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The Karnataka High Court will shortly resume the hearing on plea challenging validity of Regulations 39 to 41 of #SEBI (Mutual Fund) Scheme, 1996 relating to winding up on MF schemes.

@amrutanikam26 @sh_abhinav @LiveLawIndia @barandbench #gslupdates #franklintempleton The bench will today hear the writ petition transferred from Chennai.

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The Karnataka High Court will shortly resume the hearing on plea challenging validity of Regulations 39 to 41 of #SEBI (Mutual Fund) Scheme, 1996 relating to winding up on MF schemes.

@amrutanikam26 @sh_abhinav @LiveLawIndia @barandbench #gslupdates #franklintempleton Yesterday, Sr. Adv. Dr. Aditya Sondhi pointed out the fact to the court that the enhanced borrowing limit should have been utilised for the purpose of redemption of units.

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The Karnataka High Court will shortly resume the hearing on plea challenging validity of Regulations 39 to 41 of #SEBI (Mutual Fund) Scheme, 1996 relating to winding up on MF schemes.

@amrutanikam26 @sh_abhinav @LiveLawIndia @barandbench #gslupdates #franklintempleton On Friday, Sr. Adv. Mr. Aditya Sondhi appearing on behalf of the Petitioner in the writ transferred from Gujarat submitted that the trustees did not conduct any meeting of the unit holders thereby violating the provisions of their own scheme information document.

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The Karnataka High Court will shortly resume hearing on plea challenging the validity of Regulation 39 to 41 of #SEBI (Mutual Fund) Scheme, 1996 pertaining to winding up of MF schemes.

@amrutanikam26 @sh_abhinav @LiveLawIndia @barandbench #gslupdates #franklintempleton Yesterday, Sr. Adv. Mr. @sradvravindra pointed out to the court that an event speculated under Regulation 39 should be of such a nature so as to make it impossible to continue with the scheme and not merely making it uneconomical for the company to continue with it.

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The Karnataka High Court will shortly resume hearing on plea challenging the validity of Regulation 39 to 41 of #SEBI (Mutual Fund) Scheme, 1996 relating to winding up of MF schemes.

@amrutanikam26 @sh_abhinav @LiveLawIndia @barandbench #gslupdates #franklintempleton Yesterday, Sr. Adv. Mr. @sradvravindra submitted that an expert can ascertain whether a decision of winding up is in the interest of investors or the interest of the trustees.

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The Karnataka High Court will shortly resume hearing on plea challenging the validity of Regulation 39 to 41 of #SEBI (Mutual Fund) Scheme, 1996 pertaining to winding up of MF schemes.

@amrutanikam26 @sh_abhinav @LiveLawIndia @barandbench #gslupdates #franklintempleton Yesterday, Sr. Adv. Mr. @sradvravindra pointed out to the court that the regulations do not allow #SEBI to enter into the arena of judging the correctness of the decision of winding up.

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The Karnataka High Court will shortly resume the hearing on Plea challenging the validity of #SEBI (Mutual Fund) Regulations, 1996 relating to winding up of MF schemes Regulations 39 to 41.

@amrutanikam26 @sh_abhinav @LiveLawIndia @barandbench #gslupdates #franklintempleton In the last hearing it was summarised by Sr. Adv. @sradvravindra that Regulation 39(2)(a) should be harmoniously construed with regulation 18(15) which requires the consent of unit holders for taking the decision of winding up.

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The Karnataka High Court will shortly resume the hearing on plea challenging the validity of #SEBI (Mutual Funds) Regulation, 1996 pertaining to winding up of MF schemes Regulation 39 to 41.

@sradvravindra @sh_abhinav @LiveLawIndia @barandbench #gslupdates #franklintempleton Yesterday, Sr. Adv. @sradvravindra appearing on behalf of the Petitioner pointed out that in a press release #SEBI condemning the actions of some MF schemes.

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The Karnataka HC will shortly resume the hearing on plea challenging #SEBI (Mutual funds) regulations, 1996 regarding the winding up of MF schemes, Regulation 39 to 41.

@LiveLawIndia @barandbench #gslupdates #franklintempleton #franklinupdates #mutualfundsahihai Yesterday, Sr. Adv. Mr. Ravindra Shrivastava pointed out that the winding up of the mutual fund schemes have put a clog on the redemption on the units.

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Karnataka High Court is hearing a writ petition challenging the validity of #SEBI (Mutual Funds) Regulation, 1996

@sh_abhinav #gslupdates #franklintempleton The matter is being heard by a division bench comprising of the Hon’ble Chief Justice and Hon’ble Justice Ashok S. Kinagi.

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