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of <h1>Regulation 16: Issuers Must Monitor Proceeds of Issues Over 100 Crore, Excluding Banks and Insurance Companies.</h1> Regulation 16 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 mandates that if an issue size exceeds 100 crore rupees, excluding offers for sale, the issuer must arrange for a public financial institution or a scheduled commercial bank to monitor the use of proceeds. This requirement does not apply to banks, public financial institutions, or insurance companies issuing specified securities. The monitoring agency must submit quarterly reports until 95% of the proceeds are utilized. The issuer's board and management must comment on these findings, and the issuer must publicly disseminate the report within 45 days of each quarter's end.
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