September 4, 2026
#Business

Sebi bars Vijay Mallya from securities market for 3 years

Sebi on Friday barred fugitive businessman Vijay Mallya from the securities market for another three years as also from holding directorship in listed companies for five years in the case of illegal fund diversions at United Spirits Ltd.

Besides, the watchdog has imposed a one-year ban on two former company officials — Ashok Capoor and PA Murali.

Through an interim order in January 2017, the regulator had barred Mallya and six former officials of United Spirits, including Capoor and Murali, from the securities markets in the case related to illegal fund diversions.

In a 38-page order, Sebi said it has banned Mallya for three years from the securities market.

He has also been barred from “holding position as director or key managerial person of a listed company for a period of five years”, it added.

Capoor and Murali have been restrained from holding directorship or key managerial positions for one year.

Sebi bars Vijay Mallya from securities market for 3 years

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