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QUESTION # 1: You can revert to the previous version by restoring from backup (I hope you took one before upgrading) - not sure if the version in the backup is the one you need though ...
QUESTION # 2: ASM needs to be at the same or higher level than the database so the answer is: Yes
... hope this helps,
Thanks for the reply....
I just wanted to clarify one thing as per my question number 1, we do not have any backup as thats the first oracle db we installed. It was a straight fresh installation.....