Monitoring obligation for large public issues requires registered credit rating agency oversight and quarterly public reporting. Issuers with public issues above the prescribed threshold must have the use of proceeds monitored by a credit rating agency registered with the Board (excluding certain financial-sector issuers). The monitoring agency must submit Schedule XI format reports quarterly until two hundred per cent of proceeds are utilised; the issuer's board and management must comment on findings, and the issuer must publish the report within forty five days of each quarter end on its website and with listed stock exchanges.