The wait to get back their money stuck in six schemes of Franklin Templeton can be longer for the mutual fund investors. Even though Franklin Templeton has said that they have got an overwhelming response in the favour of the winding up of schemes, the Supreme Court of India might take some time. In a hearing on Monday, the court said that they will decide on the distribution of money to Franklin Templeton unitholders after hearing the submissions objecting to the e-voting process. The apex court has granted three days for filing of objections to the e-voting on winding up by Franklin Templeton. The Court has now posted the hearing further on January 25. Franklin Templeton Mutual Fund said that they got a YES nod from the unit holders to wind up the six shut schemes. According to the observer’s report, over 90% of the unit holders in these six schemes have voted for winding up. The six shut debt schemes have received cash flows worth Rs 2,667 crore since April 24. This is about 10% of the Rs 26,000 crore that are stuck in these schemes. If the legal uncertainties are resolved soon, the investors might get their money soon in some schemes. “The schemes have got a fair share of the liquid cash now till December and that can be processed soon. For schemes like the liquid fund and the ultra short term fund, there is a possibility of getting 90-100% of your money back. Schemes like the short-term income plan and others may take 2-3 years to refund the full amount,” says Babu Krishnamoorthy, Chief Sherpa, FinSherpa Investment Services, a financial advisory firm, based in Chennai. After this step, if the Supreme Court gives the fund house a go ahead for liquidation of the schemes, the next step would be to decide how the money will be monetised. The investors can either authorise the Trustees assisted by Kotak Mahindra or DeloitteTouche Tohmatsu India for the liquidation process. “We are thankful to our unitholders for voting overwhelmingly in favour of the orderly winding up in all 6 schemes. We deeply appreciate the support of our investors and partners and hope to commence distribution of investment proceeds at the earliest, subject to the directions of the Hon’ble Supreme Court in the next hearing scheduled to be held on 25 January 2021,” Franklin Templeton Mutual Fund stated. The e-voting process took place from December 26-28, 2020. SEBI had appointed Taruvai Subayya, the former chief election commissioner of India as the observer for e-voting.