Two more debt schemes of Franklin Templeton India have repaid the entire outstanding loans. With this, four of the six debt schemes that are being wound up has turned cash positive as of August-end.
Franklin India Low Duration Fund has received ₹204 crore till date and turned credit positive of ₹190 crore while Credit Risk Fund got ₹546 crore and became credit positive of ₹98 crore.
In all, the fund house the six debt schemes received ₹1,498 crore from maturities, pre-payments and coupon payments during the fortnight ended August. This has taken the overall cash flows to ₹6,486 crore since the schemes were suspended for trading on April 24 due to heavy redemption pressure.
Two other schemes Ultra Short Bond and Dynamic Accrual Fund, which were already cash positive, has ₹3,193 crore and ₹364 crore for distribution among investors once the Karnataka High Court give permission to seek investors approval.
The remaining two schemes Short Term Income Plan and Income Opportunity Fund have outstanding loan of ₹1,055 crore and ₹ 535 crore.
The mandatory unit-holders meet continue to remain suspended till further directions received from the Karnataka High Court, said the fund house. Active monetisation of assets of the schemes and distribution of investment proceeds to the unit-holders will be possible only after successful e-voting, it added.