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
For the aforesaid reasons, the application IA No. 53453/2022 filed by FIFA is dismissed, without any orders as to costs.
Judgment, page 8
From the headnote
Security and Exchange Board of India (Mutual Funds) Regulations, 1996 – Regulation 52 – Applicability – Regulation 52, which relates to and permits deduction of expenses including commission payable to the distributor, is applicable when the scheme is in operation, and not post the decision of the trustees in terms of Regulation 39(2)(a) read with Regulation 39(3), whe n, upon publication of notices, the ceasure mandate of Regu lation 40 is triggered. Security and Exchange Board of India (Mutual Funds) Regulations, 1996 – Regulations 40 and 52 – Held: Regulations 40 and 52 need to be read
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