MUMBAI: Franklin Templeton India issued an apology to Securities and Exchange Board of India (Sebi) 'on any unintended slight caused to the regulator'.
The market regulator was miffed over Franklin Templeton global president Jennifer M Johnson’s comment that regulatory guidelines were one of the reasons that led to shutting down of its six debt schemes in India.
Late on Thursday, Sebi issued a statement stating that Franklin Templeton should focus on refunding investors' money and that some funds have had high concentration risk.
To clarify, Franklin Templeton, in a newspaper notice on Friday, said Johnson's statements were taken out of context. On 23 April, Franklin Templeton India had wind up six of its debt schemes due to illiquidity