भारत में मर्चेंट बैंकिंग के ऐतिहासिक विकास के संबंध में निम्नलिखित कथनों पर विचार कीजिए: I. भारत में किसी भारतीय वाणिज्यिक बैंक द्वारा पहला औपचारिक मर्चेंट बैंकिंग प्रभाग 1972 में भारतीय स्टेट बैंक (SBI) द्वारा स्थापित किया गया था। II. सेबी (SEBI) की स्थापना और सेबी अधिनियम, 1992 के पारित होने के बाद मर्चेंट बैंकों के लिए औपचारिक नियामक ढांचे को मजबूत किया गया। III. 1970 के दशक के उत्तरार्ध और 1980 के दशक में मर्चेंट बैंकिंग सेवाओं के विकास का प्राथमिक प्रोत्साहन विदेशी मुद्रा विनियमन अधिनियम (FERA), 1973 का कार्यान्वयन था, जिसने विदेशी कंपनियों को इक्विटी कम करने के लिए मजबूर किया। उपर्युक्त कथनों में से कौन से सही हैं?

A large technology firm, 'Future-Tech Ltd,' wants to launch an IPO of 2000 Crore Rupees. They appoint 'Ace Merchant Bank' as the Lead Manager. During the due diligence, Ace Merchant Bank discovers that the company has a pending litigation in an international court that could potentially result in a liability of 500 Crore Rupees. The company management asks the banker to omit this detail from the prospectus as they believe the chance of losing the case is low and it might hurt the IPO valuation. What is the legally and ethically correct course of action for the Merchant Banker under SEBI guidelines?

Analyze the following seven statements concerning the regulatory and operational aspects of Merchant Banking in India under SEBI guidelines: Statement 1: A Merchant Banker registered in Category I can act as a registrar to an issue or a share transfer agent without any additional registration, as their license is comprehensive. Statement 2: The SEBI (Merchant Bankers) Regulations prohibit a merchant banker from carrying on any business other than that in the securities market, with some exceptions for banking companies. Statement 3: In an IPO, the Merchant Banker must ensure that the 'Minimum Subscription' of 90 percent of the total issue is received, otherwise the entire issue must be aborted and money refunded. Statement 4: The 'Underwriting Commission' is paid to the merchant banker even if the issue is fully subscribed by the public, as it is a fee for the risk undertaken. Statement 5: Merchant Bankers are allowed to accept deposits from the public as long as they provide a guarantee of a 10 percent annual return. Statement 6: The 'Due Diligence Certificate' filed by the lead manager with SEBI states that they have independently verified the contents of the prospectus. Statement 7: A 'Merchant Banker' and an 'Investment Banker' are terms used interchangeably in most global markets, including India, though the Indian law specifically uses the former. Which of the following describes the correct status of these statements?