MUMBAI: The Gujarat high court has stayed the e-voting process for winding up Franklin Templeton's six debt schemes in a plea filed by promoter directors of soft drink brand Rasna Pvt Ltd.
The plea has alleged that the winding up of the debt schemes was illegal. The matter will be next heard on 12 June. "By way of ad-interim relief, the operation and implementation of the notice dated 28.05.2020 regarding E-voting and Unit-holder's meeting send through Email by respondent no.3 herein shall remain stayed," the high court said in its order.
Franklin had issued e-voting notices seeking unit holders’ authorisation to monetise the underlying securities set aside on 28 May.