The Supreme Court has upheld the validity of the e-voting process after which Franklin Templeton announced the winding up of 6 mutual funds. The court has also appointed SBI MF to undertake the process and push ahead with the liquidation.

Earlier, Rs 9,100 crore had flown into 5 cash positive schemes and for which SBI Mutual Fund was appointed to be the institution to disburse those funds and that exercise is likely to begin by Tuesday.

Sumaira Abidi reports that SBI Mutual Fund will now undertake the liquidation for the bonds which have not yet matured.

Also Read: Franklin Templeton case: SC rejects objections raised by investors against e-voting results

CNBC-TV18 learns that this sale of bonds will not be a distress sale and will be in orderly fashion.

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(Edited by : Bivekananda Biswas)