Final Order in the matter of First Overseas Capital Limited
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What is this order about?
SEBI issued a final order against First Overseas Capital Limited (FOCL) for violating merchant banker regulations, including failing to maintain required net worth, engaging in unauthorized business, and submitting false information.
Who it concerns
First Overseas Capital Limited
What was found or directed
- Violated net worth requirement of ₹5 Crore under MB Regulations
- Engaged in business other than securities market
- Exceeded underwriting obligations beyond 20x net worth
- Accepted public deposits for underwriting
- Submitted false/misleading information to SEBI
- Debarred from taking new mandates until further order
| Source body | Securities & Exchange Board of India (SEBI) — enforcement orders |
| Reference number | WTM/AS/CFD/CFD-SEC-4/31729/2025-26 |
| Status | closed (section: order) |
| Year | 2025 |
| Closing date | — |
| Documents | 1 |
Highlights & Points worth asking
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Documents
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Order
2025-10-23
1761213903038_2.pdf
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