Sebi bars Mallya from trading in securities market

Mumbai, Jan 25 (IANS) Securities and Exchange Board of India (Sebi) on Wednesday barred beleagured businessman Vijay Mallya and six others from trading in the securities market with immediate effect.

Vijay Mallya and six others including the former managing director of United Spirits Ltd (USL) Ashok Capoor were “restrained from accessing the securities market and are further prohibited from buying, selling or otherwise dealing in securities in any manner whatsoever, either directly or indirectly”, according to a Sebi order released here.

The markets regulator and also restrained Mallya and Capoor “from holding position as directors or key managerial persons of any listed company”.

The above directions shall come into force with immediate effect and shall be in force till further directions, Sebi said.

–IANS

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