MUMBAI, May 20 -- The trustees of Franklin Templeton India on Wednesday appointed Kotak Mahindra Bank to assist the trustees in monetising portfolio of the six shuttered schemes.

"The Trustees have appointed Kotak Mahindra Bank, who, through its debt capital markets team, will work closely with the Franklin Templeton Trustees, to assist with all portfolio actions in these six schemes that are being wound up," said Franklin Templeton in a press statement.

The Asset Management Company (AMC) had on 23 April announced that six of its debt schemes are being wound up due to severe illiquidity and redemption pressures. This shuttering of schemes left 300,000 investors in a lurch with total investment of Rs25,856 crore.

The appointment of an e...