Vijay Mallya's appeal against SEBI ban dismissed
The Securities Appellate Tribunal has dismissed Vijay Mallya's appeal against SEBI's interim order, which barred him from accessing capital markets. SEBI had barred Mallya for alleged violations of listing agreement, diversion of funds, and fraud. Mallya had approached SAT against the directive, alleging SEBI based its order on two forensic audit reports, and without its own investigations.