Supreme Court of India
Franklin Templeton Trustee Services Private Limited and Another v. Amruta Garg and Others Etc.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
We hold that the consent of the unitholde rs, as envisaged under clause (c) to Regulation 18(15), is not required before publication of the notices under Regulation 39(3).
Judgment, page 35
From the headnote
Securities and Exchange Board of India (Mutual Fund s) Regulation, 1996: Regns. 18(15)(c) and 39 to 42 – Interpretation of – Wi nding up of six mutual fund schemes – High Court interpre ting Regn 18(15)(c) and Regn 39(2)(a) held that the decision of the trustees to wind up a scheme under clause (a) to Regn 39(2) must mu ster the consent of the majority of the unitholders as per Reg n 18(15)(c) – Case of SEBI, the trustees and the Asset Management Company that prior consent of the unitholders is not envisa ged when the trustees, or SEBI directs winding up of a scheme in the interest of the
Authorities it was built on
- 2017 Shayara Bano v. Union of India and Others
- 2019 Pioneer Urban Land and Infrastructure Limited & Anr. v. Union of India & Ors.
- 2018 B.K. Educational Services Private Limited v. Parag Gupta and Associates
- 2006 State of Tamil Nadu and Anr. v. P. Krishnamurthy and Ors.
- 1974 Union of India v. Raman Iron Foundry
- 1989 Senior Supdt. of Post Office & Ors. v. Izhar Hussain
- 2018 Director General, Crpf & Ors. v. Janardan Singh & Ors.
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