On April 23, 2020, Franklin Templeton India Mutual Fund (FT) shocked investors by winding up six of its debt mutual fund schemes, amounting to assets under management of INR 267.79 billion, with over 300000 investors. The decision was based on the liquidity squeeze in the financial markets as COVID-19 forced the world, including India, into lockdown. FT was facing redemption pressures it could no longer meet without making distress sales of its underlying investments. The management deemed a distress sale to be far more detrimental to investor interests than freezing their investments in the fund. The question arises if there were other compelling reasons that brought FT to this unfortunate decision.