The report said that market regulator may probe to find out whether promoters or management at UBHL and Kingfisher Airlines used price-sensitive information to indulge into trading and act as 'markets'.
Reports said that Sebi may launch an enquiry as soon as it finds out any prima facie evidence against the company.
UBHL's filing with stock exchange showed that LKP Finance bought a stake of 7.36 per cent when the promoters of Mallya led group reduced their holding by 8.41 per cent. LKP Finance, a listed NBFC, has not communicated this through any filing or release giving rise to doubts in the deal.
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