Read on Twitter
Important for the investors of the SIX schemes intended to be shut down by @FTIIndia
---
1. The shut down is an opinion of the trustees which they can have under section 39 of the SEBI MF Regulations, 1996. However, the trustees shall have to take approval of unit holders.
https://abs.twimg.com/emoji/v2/... draggable="false" alt="👇🏻" title="Down pointing backhand index (light skin tone)" aria-label="Emoji: Down pointing backhand index (light skin tone)">
---
1. The shut down is an opinion of the trustees which they can have under section 39 of the SEBI MF Regulations, 1996. However, the trustees shall have to take approval of unit holders.
" title="Important for the investors of the SIX schemes intended to be shut down by @FTIIndia ---1. The shut down is an opinion of the trustees which they can have under section 39 of the SEBI MF Regulations, 1996. However, the trustees shall have to take approval of unit holders. https://abs.twimg.com/emoji/v2/... draggable="false" alt="👇🏻" title="Down pointing backhand index (light skin tone)" aria-label="Emoji: Down pointing backhand index (light skin tone)">" class="img-responsive" style="max-width:100%;"/>
2. This approval is required under section 41(1) of SEBI regulation from the unit holders of the individual schemes.
3. Who can vote for to give or not give the approval?
A Unit holder whose name appears on the register of Unit holders at the close of business hours of April 24, 2020 shall be entitled to vote on the matter under regulation 41(1) as set forth above.
A Unit holder whose name appears on the register of Unit holders at the close of business hours of April 24, 2020 shall be entitled to vote on the matter under regulation 41(1) as set forth above.
4. What happens if no-one votes?
If none of the Unitholder(s) participate, the Trustee or the person so authorized shall assume the authority to take steps for winding up of the Schemes.
If none of the Unitholder(s) participate, the Trustee or the person so authorized shall assume the authority to take steps for winding up of the Schemes.
5. @FTIIndia has said that they propose to seek such approval through electronic or other appropriate means as far as circumstances permit.
Investors who have not registered their email id are requested to register their email id with FT at the earliest.
Investors who have not registered their email id are requested to register their email id with FT at the earliest.
6. At this point, I don& #39;t wanna say what will happen if they dont get the approval from unit holders of the respective schemes.
@pvsubramanyam You wanna say something? :)
@pvsubramanyam You wanna say something? :)
If people understand the importance of this tweet they shall share re-tweet it more.
