Vijay Mallya banned from trading in Indian stocks or associating with listed firms for 3 years

An investigation conducted by Sebi covering January 2006 to March 2008 found that Mallya used Matterhorn Ventures, a Foreign Institutional Investor (FII), to secretly trade shares of his group companies — Herbertsons Ltd and United Spirits Ltd (USL) — by routing funds through various overseas accounts


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