Sebi has made it essential for trustees of mutual funds to get unitholder permission when a majority of trustees decide to wind up a scheme to protect mutual fund investors' interests. According to Sebi, the trustees must acquire unitholder permission by a simple majority of the unitholders present voting on a one-vote-per-unit basis, and publish the results of the voting within 45 days of the publication of the notice of circumstances leading to winding up. If the trustees are unable to get authorisation, the plan will be open for business on the second business day following the publication of the voting results.