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Mallya moves SAT against Sebi's ban for diverting funds

Mallya moves SAT against Sebi's ban for diverting funds

Friday, April 7, 2017, 8:00 PM

Beleaguered liquor baron Vijay Mallya has moved Securities and Appellate Tribunal (SAT) challenging SEBI’s order which has barred him from securities market for allegedly diverting funds to the tune of Rs 1,880 crore from United Spirits (USL). The market regulator on January 25 passed an order against Mallya and six other entities, for violating Sebi's (prohibition of fraudulent and unfair trade practices) regulations.
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