Cracking its whip on ‘wilful loan defaulters’, markets regulator Securities and Exchange Board of India today decided to bar them from raising public funds through stocks and bonds as also from taking board positions at listed companies – a move that would disqualify beleaguered Vijay Mallya from various posts.
Addressing media in New Delhi,SEBI Chairman U K Sinha said, willful loan defaulters barred from fund raising, taking positions at listed firms, from setting up market entities like mutual funds.

He said, the targets of the SEBI is to complete probe and pass final orders in all cases within two years, starting this fiscal.

U K Sinha said Finance Minister has asked to remain alert on supervision of markets keeping in mind impact of global developments.