Sebi bars wilful defaulters from raising public funds

Report says that Sebi has also decided to bar such defaulters from setting up market intermediaries such as mutual funds. 

Sebi decided to bar wilful defaulters from raising public funds through stocks and bonds, according to reports.

Report says that Sebi has also decided to bar such defaulters from setting up market intermediaries such as mutual funds.

These defaulters would also be not allowed to take control of any other listed company, says report.

The move comes in the wake of a raging controversy over UB Group Chairman Vijay Mallya, who has exited the country