Franklin Templeton Mutual Fund has filed a petition before the Gujarat High Court against the stay order on the e-voting process issued by the court last week.

The fund house moved the court on Friday with a plea to allow it to go ahead with the e-voting scheduled from June 9-11. A spokesperson for the fund house confirmed the development.

“We would like to confirm that we are in the process of seeking appropriate relief from the court in the interest of the unit holders,” said a spokesperson.

Last week, while hearing a petition filed by three entities who had invested a total of ₹6.55 crore in the Franklin Templeton schemes, Justice Gita Gopi issued a notice to the fund house while staying the e-voting announced by the entity on May 28.

In April, the fund house abruptly wound six debt schemes that, at the time of closure, had assets under management (AUM) of about ₹26,000 crore stating it was forced to do so due to an illiquid market for low- rated instruments. The stay order assumes significance since it was the first step in getting the unit holders’ nod to proceed with winding up of the schemes.

As part of the e-voting process, the fund house had given unit holders two options to proceed with the monetisation of the assets.

They could either authorise the trustees along with the fund house to monetise the assets or vote for Deloitte to undertake the process.

The court stayed e-voting after the petitioners sought relief stating the entity did not follow rules properly before winding up the schemes.

They said the trustees had to get unit holders consent and repay the money before winding up a scheme but Franklin Templeton did not follow any such process.