SEBI fines Franklin Templeton AMC officials, trustees

Sebi has also imposed a fine of Rs 1.5 crore each on Kunal Agarwal, Sumit Gupta, Pallab Roy, Sachin Padwal Desai and Umesh Sharma, who were the fund managers of the scheme at the time of violation of the rules. SEBI has imposed a fine of Rs 50 lakh on Saurabh Gangde, the then Chief Compliance Officer of the company. These people have been asked to pay the fine within 45 days.

SEBI has noted that Vivek Kudva, Head, Asia Pacific, Franklin Templeton, and Alok Sethi, Director, Franklin Templeton Trustees, were both directors on the Board of Directors of MyWish Marketplaces. These people have been punished for encashing their units by keeping confidential information with them.


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