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The market regulator SEBI has decided to bar ‘wilful loan defaulters’ from raising public funds via stocks and bonds as also from taking board positions at listed companies, a move which would disqualify beleaguered Vijay Mallya from various posts.
Moreover, SEBI has also decided to bar such defaulters from setting up market intermediaries such as mutual funds and brokerage firms.
These defaulters would not be allowed to take control of any other listed company.
