The Securities and Exchange Board of India (SEBI) building in Bandra-Kurla Complex, Mumbai. (Photo/PTI) Show Quick Read Summary is AI Generated. Newsroom Reviewed

The Securities and Exchange Board of India (SEBI) on Thursday barred First Overseas Capital from taking any new mandate for two years and levied a penalty of Rs 20 lakh for multiple violations, including furnishing false information and breaching underwriting limits.

The regulator has also restrained First Overseas Capital Ltd (FOCL) from accessing as well as dealing in the securities markets for a period of two years.

In a 43-page order, Sebi found that FOCL submitted false and misleading information, failed to intimate Sebi about securities acquired under underwriting commitments, delayed filing of half-yearly reports,

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