The money will be distributed to the unit holders in proportion to their interest in the assets of the scheme. On December 3, the Supreme Court had asked Franklin Templeton Mutual Funds to initiate steps within one week to call a meeting of its unitholders to seek their consent to close the schemes. The judges had observed that the "issue is big and people want a refund". The vote on closing down the schemes had taken place in the last week of December and it was approved by a majority of unitholders. On January 18, the top court granted three days for filing of objections to the e-voting. Franklin Templeton MF, one of India's most prominent fixed income fund houses, abruptly shut down these schemes in April, at the peak of a nationwide Covid lockdown, citing redemption pressure, severe market dislocation and liquidity crisis.