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Sebi widens L’affaire Vijay Mallya probe

Sebi widens L’affaire Vijay Mallya probe

Finding prima facie confirmation of non-compliance to various norms including on insider trading & corporate governance, Sebi has broadened its probe into dealings of Vijay Mallya-led UB Group, including in its own shares and with UK-based Diageo & other foreign players.

The capital markets monitor may be looking for information from other regulators in the country and abroad, as also from the stock exchanges, as it seeks to de-clog the complex transactions Mallya had entered into, including for sale of stake and shift rights in his different group companies.

Details & explanations have also been sought from all the concerned parties with the present and erstwhile UB Group firms as well as from the foreign companies with whom Mallya has dealt with for sale of controlling stake in United Spirits Ltd to Diageo, a senior official told in reports.

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