Vijay Mallya barred from trading in Indian securities for 3 years by SEBI

Financial market regulator SEBI has barred fugitive businessman Vijay Mallya from accessing the securities markets for three years, with immediate effect, on charges that he masked his identity and traded in Indian securities.

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In an order released on Friday on the regulator's website, SEBI said Mallya is restrained from accessing the securities market and further prohibited from buying, selling or otherwise dealing in securities, directly or indirectly, or being associated with the securities market in any manner, for a period of three years. The fugitive businessman is further restrained from associating himself with any listed company or proposed to be listed company, in any capacity, directly or indirectly, for a period of three years. Further, during the period of restraint, the existing holding of securities including the holding of units of mutual funds of Mallya shall remain frozen