SEBI Bans First Overseas Capital For Two Years, Fines Rs 20 Lakh For Rules Violations
New Delhi: The Securities and Exchange Board of India (SEBI) has barred merchant banker First Overseas Capital Limited (FOCL) from the securities market for two years and imposed a penalty of Rs 20 lakh for repeated violations of regulatory norms. The market regulator’s action comes after two inspections: one in August 2022, which covered April…