Fresh blow to Vijay Mallya: SEBI bars fugitive liquor baron from securities trading for 3 years

The Securities Exchange Board of India (SEBI) on Friday barred Vijay Mallya from trading in India's securities market for three years. SEBI also prohibited Mallya from associating with any listed firm. His existing holdings, including mutual funds, will remain frozen. Mallya, who owns an 8.1% stake in United Breweries and a 0.01% stake in United Spirits, faces a Rs 9,000 crore bank loan default case involving Kingfisher Airlines. Declared a Fugitive Economic Offender in 2019, Mallya has been living in the UK since leaving India in March 2016.