If the law and SEBI’s actions are found wanting, it is bad for the industry as well. : Curated markets data, exclusive trading recommendations, Independent equity analysis & actionable investment ideas It is now widely reported that SEBI has taken what would appear to be strong action against the manager of Franklin Mutual Funds (Franklin Templeton Asset Management (India) Private Limited/Franklin). They have been ordered to return, with high interest, the fees they have earned on managing the funds. They have been banned for two years from making any new debt fund issue.