Bhandari Hosiery Exports Limited: Monitoring Agency Report on Rights Issue Proceeds Utilization
SEBI Regulation 32 of the Listing Obligations and Disclosure Requirements Regulations, 2015 mandates that listed companies engaging in rights issues appoint an independent monitoring agency to certify quarterly that proceeds are deployed as disclosed. Bhandari Hosiery Exports appointed CRISIL Ratings Limited for this role. The report covers Q1 FY2026–27 (quarter ended 30 June 2026) and was approved by both the Audit Committee and Board of Directors in their meeting on 13 August 2026 before filing with NSE on 14 August 2026.
Why it mattersQuarterly monitoring agency certification is mandatory post-rights issue; this filing confirms ongoing regulatory compliance with SEBI's disclosure regime, and any variance from stated use of proceeds creates derivative litigation risk.
SectorConsumer & Retail
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Sources
- NSE Corporate Archives · official
- SEBI Listing Obligations and Disclosure Requirements Regulations 2015 · official
- Bar & Bench Legal News
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