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Hey!
yes you can do that. you can either surrender your 1st round seat and appear in 2nd round in the same fees you paid.
or resign your counselling and pay a new fee for 2nd round and appear again. so you have 2 option through which you can attend 2nd round.
but before surrendering make sure you really dont need that college. because you cant get it back. it is free exiting.
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