Mutual Fund Scheme Winding Up Requires Majority Unitholder Consent Per Regulation 18(15); Objections to Poll Results Rejected.

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....Winding up of mutual fund scheme - Procedure and manner of winding up - For the purpose of clause (c) to Regulation 18(15), consent of the unitholders would mean consent by majority of the unitholders who have participated in the poll, and not consent of majority of all the unitholders of the scheme. In view of the findings and reasons stated above, we reject the objections to poll results and hold that the unitholders of the six schemes have given their consent by majority to windup the six schemes. - SC....