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    Question

    Which entity has recently been restricted by SEBI from

    accepting new mandates as a lead manager for public debt issues?
    A Kotak Mahindra Bank Correct Answer Incorrect Answer
    B ICICI Securities Correct Answer Incorrect Answer
    C First Overseas Capital Ltd Correct Answer Incorrect Answer
    D Edelweiss Financial Services Correct Answer Incorrect Answer
    E Axis Capital Correct Answer Incorrect Answer

    Solution

    SEBI has barred First Overseas Capital Ltd (FOCL) from accepting new mandates as a lead manager for public debt issues due to violations related to merchant banker regulations. FOCL was found to have breached capital adequacy requirements and accepted public deposits to meet underwriting obligations, contravening SEBI's and the Companies Act's guidelines.

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