Regulation 82 - Monitoring agency - Securities And Exchange Board of India (Issue Of Capital And Disclosure Requirements) Regulations, 2018

Monitoring agency 82. (1) If the issue size exceeds one hundred crore rupees, the issuer shall make arrangements for the use of proceeds of the issue to be monitored by a 2 [ credit rating agency registered with the Board: ] Provided that nothing contained in this clause shall apply to an issue of specified securities made by a bank or public financial institution or an insurance company. (2) The monitoring agency shall submit its report to the issuer in the format specified in Schedule XI on a quarterly basis, till 3 [ hundred per cent ] . of the proceeds of the issue 1 [ actually raised ] 4 [ **** ] have been utilised. (3) The board of directors and the management of the issuer shall provide their comments on the findings of the monitoring agency as specified in Schedule XI . (4) The issuer shall, within forty five days from the end of each quarter, publicly disseminate the report of the monitoring agency by uploading the same on its website as well as submitting the same to the stock exchange(s) on which its equity shares are listed. ************* NOTES:- 1. Inserted vide Notifivation No. SEBI/LAD-NRO/GN/2020/31 dated 28-09-2020 2. Substituted vide Notification No. SEBI/LAD-NRO/GN/ 2022/ 63 dated 14-01-2022 before it was read as public financial institution or by a scheduled commercial bank named in the letter of offer as a banker of the issuer: 3. Substituted vide Notification No. SEBI/LAD-NRO/GN/ 2022/ 63 dated 14-01-2022 before it was read as at least ninety five per cent 4. Omitted vide Notification No. SEBI/LAD-NRO/GN/ 2022/ 63 dated 14-01-2022 before it was read as , excluding the proceeds raised for general corporate purposes,