Classic Filaments Limited has made a regulatory disclosure to BSE Limited regarding the appointment of a monitoring agency for its ongoing preferential issue.
The Board of Directors has approved the appointment of "Brickwork Ratings India Private Limited" as the Monitoring Agency. Brickwork Ratings is a SEBI-registered Credit Rating Agency.
The primary responsibility of the monitoring agency will be to oversee the utilization of funds raised through the company's ongoing Preferential Issue. The agency is mandated to submit quarterly monitoring reports and event-based monitoring reports to BSE Limited and other applicable regulatory authorities.
These monitoring reports will be periodically reviewed by the company's Audit Committee and Board of Directors. The monitoring arrangement will continue until the complete deployment of the issue proceeds.
The disclosure is made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The communication is signed by Vikkas Bansal, Managing Director (DIN: 00441630) of Classic Filaments Limited.