“Vijay Mallya shall continue to be restrained from accessing the securities market and prohibited from buying, selling or otherwise dealing in securities in any manner whatsoever, either directly/ indirectly for a further period of 3 years from the date of this order, holding position as director or key managerial person of a listed company for a period of five years from the date of this order,” Sebi said in its order today.
The regulator has also banned firm's two ex-officials — Ashok Capoor and P A Murali — for a period of one-year.
Through an interim order in January 2017, the regulator had barred Mallya and six former officials of United Spirits, including Capoor and Murali, from the securities markets in the case related to illegal fund diversions, PTI reported.
"In the context of diversion of funds perpetrated in a listed company by way of dubious and concealed financial statements/ projections or false books of accounts, it is inevitable that Sebi should step in and take appropriate action..," Sebi Whole Time Member G Mahalingam said in the order.
Mallya left India for the UK in 2016, pursued by banks seeking an estimated Rs 9,000 crore in repayments and investigative agencies wanting to question him about alleged money laundering. India has been seeking to extradite him from the UK. Mallya has consistently denied any wrongdoing and said hes worried he may not get a fair hearing in India.