In a letter to investors Franklin Templeton Asset Management (India) Pvt Ltd President Sanjay Sapre said, "we have no plans to exit our India business"
Individually, Franklin India Ultra Short Bond Fund, Franklin India Low Duration Fund, Franklin India Dynamic Accrual Fund and Franklin India Credit Risk Fund have 49 per cent, 48 per cent, 34 per cent and 16 per cent of their respective AUM in cash.
SC agreed to hear an appeal filed by Franklin Templeton against the Karnataka HC order which stopped the fund house from winding up its debt fund schemes without prior consent of the investors