Franklin Templeton Mutual Fund (FT MF), has received interest payment of Rs 146 crore from telecom major Vodafone Idea which was due on 3 September, the amount will be distributed among investors of these schemes in proportion to their holdings within next few days.

The five schemes which are under the wind-up process include Franklin India Low Duration, Franklin India Short Term Income Plan, Franklin India Credit Risk Fund, Franklin India Dynamic Accrual Fund, and Franklin India Income Opportunities. Earlier the fund house shared that it has received another Rs 1,498 crore in two weeks (between 15, August 2020 and 31, August 2020) from maturities, prepayments and coupon payments. As per 31 August, the total cash flows received by the fund house was Rs 6,486 crore, when it announced the wind-up of its sixth debt-oriented schemes in April.

In the case of Vodafone Idea, Franklin Templeton MF side-pocketed the exposure of the telecom player, after the degradation of its debt instruments below investment grade on 24 January, following the rules of Supreme Court on AGR dues. The Supreme Court’s verdict has got some relief on the timeline for clearing AGR dues of Vodafone Idea. In July, the telecom major has also paid dues on different tranches of securities, which were held by FT MF and other fund houses.