 "Former Indian politician and billionaire businessman Vijay Mallya")
The Securities Appellate Tribunal (SAT) on Friday rejected beleaguered businessman Vijay Mallya's appeal against Securities and Exchange Board of India's (Sebi) order that had barred him from holding any board position in a listed company.
The tribunal also upheld the regulator's order of barring him and six others from the securities market for alleged violation of listing norms and diversion of funds.
The appellate tribunal has dismissed all appeals against the Sebi order saying that considering the gravity of the matter, the market regulator was justified in invoking its extraordinary power of passing an ex-parte order.
"In view of the
