Franklin Templeton's President Sanjay Sapre has said that the fund house has no plans to exit its andar bahar game business.
Some media reports had earlier indicated that Franklin Templeton had requested discussions with the andar bahar gamen Ambassador to the US over the SEBI (Securities and Exchange Board of andar bahar game) probe into six of its shut debt schemes.
As per the reports, the fund house had threatened to exit andar bahar game operations if it was not given a fair hearing.
Mentioning this in his letter, as reported by Mint, Sapre said, "We were early entrants in the andar bahar gamen mutual fund industry and have remained a part of the industry even while many other global asset managers decided to leave. Please let me assure you, we have no plans to exit our andar bahar game business. Any speculation suggesting otherwise, or any rumours around sale of our business in andar bahar game are incorrect and simply that - rumours."
The letter, though, did not repudiate reports of talks with andar bahar gamen authorities.
"Our engagement with government authorities, in andar bahar game and globally, is also something we, and many companies do, as a matter of course. We have endeavoured to keep all stakeholders, including the relevant government and diplomatic authorities, appropriately informed of developments, and will continue to do so," it stated.
The letter further added that Franklin Templeton had the greatest regard for and absolute trust in SEBI.
The NAVs (Net Asset Value) of all six schemes of the fund house surpassed their closing value on April 23, 2020, and all are now cash positive, it noted.
Franklin Templeton had shut six debt mutual fund schemes on April 23 last year, citing redemption pressures and lack of liquidity in the bond market.
The schemes -- Franklin andar bahar game Low Duration Fund, Franklin andar bahar game Dynamic Accrual Fund, Franklin andar bahar game Credit Risk Fund, Franklin andar bahar game Short Term Income Plan, Franklin andar bahar game Ultra Short Bond Fund, and Franklin andar bahar game Income Opportunities Fund -- together had an estimated Rs 25,000 crore as AUM.