– SEBI has barred Vijay Mallya from accessing the securities markets for three years with immediate effect
– Mallya is restrained from buying, selling, or dealing in securities directly or indirectly, or associating with the securities market in any manner
– He is further restrained from associating with any listed company for a period of three years
– Mallya abused the Foreign Institutional Investment mechanism for investing his surplus funds kept abroad
– SEBI took up the matter for investigation based on findings from the Financial Services Authority
– Mallya used Matterhorn Ventures, a Foreign Institutional Investor, to indirectly trade in shares of his group entities in India
– Mallya did not respond to the violations alleged in the show cause notice
– Mallya is a fugitive accused in a bank loan default case of over Rs 9,000 crore and is currently in the UK.