Sebi bars Vijay Mallya, 6 others from securities market

January 25, 2017 20:59

Cracking the whip, Securities and Exchange Board of India today barred beleaguered businessman Vijay Mallya and six others from the securities market in a case related to alleged fund diversions from United Spirits Ltd.

Besides, Mallya and former United Spirits' official Ashok Capoor have been restrained from 'holding position as directors or key managerial persons of any listed company'.

In an order, SEBI has restrained Mallya and six others from the securities market and also from 'buying, selling or otherwise dealing in securities in any manner whatsoever, either directly or indirectly' till further directions.

The six others are: Ashok Capoor, P A Murali, Sowmiyanarayanan, S N Prasad, Paramjit Singh Gill and Ainapur S R.

SEBI has been looking into the matter pertaining to alleged fund diversions and improper transactions at United Spirits Ltd.

Mallya resigned as director and chairman of USL in March 2016.

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