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of <h1>Regulation 67 requires merchant bankers to oversee application processing, report misconduct, and confirm issue completion post-public or rights issue.</h1> Regulation 67 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 mandates the post-issue merchant banker to coordinate with registrars and intermediaries to monitor application processing and finalize allotments after a public or rights issue. Any observed misconduct by intermediaries must be reported to SEBI. If underwriters are involved, a notice of devolvement must be issued within ten days post-issue closure. For under-subscribed issues, details of non-compliant underwriters must be reported. The merchant banker must confirm the completion of issue formalities to the bankers, allowing them to release funds to the issuer or for refunds.
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