United Spirits case: Sebi relaxes curbs on 5 individuals

Sebi today granted "limited relief" to five former officials of United Spirits Ltd (USL) who were slapped with curbs for illegal fund diversions.
The officials are Paramjeet Singh Gill, Sowmiyanarayanan, S N Prasad, Ainapur S R and P A Murali.
In an order, the Securities and Exchange Board of India (Sebi) said the five individuals "may sell/ redeem/ liquidate the securities held by them as on date, and utilize the proceeds thereof to mitigate their financial constraints".
However, they would continue to remain restrained from "buying or dealing" in securities in any other manner whatsoever, either directly or indirectly, except selling or redeeming.

Through an interim order dated January 25, 2017, Sebi had restrained the five individuals as well as Vijay Mallya and former senior USL official Ashok Capoor from "buying, selling or otherwise dealing in securities in any manner whatsoever, either directly or indirectly" till further directions.