Monitoring requirement for large preferential issues mandates credit rating agency oversight, quarterly reports, board comments, and public disclosure. Issuers of a preferential issue above the specified threshold must engage a registered credit rating agency as a monitoring agency to supervise use of proceeds (excluding specified securities issues by banks, public financial institutions and insurance companies). The monitoring agency must submit quarterly reports in the prescribed format until all proceeds are utilised; the board and management must provide comments on those findings. Issuers must upload the monitoring report to their website and submit it to listed stock exchanges within forty five days from each quarter end.