Sebi probes board members\, trustees role at Franklin

Mumbai: Securities and Exchange Board of India (Sebi) is examining a raft of tricky issues that have cropped up in a forensic audit carried out after Franklin Templeton (FT) shut down six mutual fund schemes on April 23. These pertain to redemptions in the six schemes in the months before FT announced their winding up, accommodation of long-term securities in short-term funds, delayed reaction to downgrades of papers, and the role of the