Sebi bans Mallya, 6 others from markets

This came a day after CBI filed a charge sheet on Mallya in Rs 1,300-crore IDBI Bank loan fraud case

The Securities and Exchange Board of India (Sebi) has barred fugitive tycoon Vijay Mallya from accessing the capital markets anymore. The charge is fund diversion of Rs 1,880 crore from United Spirits (USL).

This came a day after the Central Bureau of Investigation filed a court charge sheet on Mallya in the Rs 1,300-crore IDBI Bank loan fraud case.

On Wednesday, along with Mallya, Sebi similarly barred six other from the capital markets, including Ashok Capoor, former managing director of USL. And, restrained them from holding any board or key managerial position (KMP) in any listed company. This is for alleged involvement