Parties Involved
- Issuer: Faalcon Concepts Limited, registered office at N-75 Ground Floor, Mayfield Garden, Sector 51, Gurugram, Haryana, 122018
- Monitoring Agency: Brickwork Ratings India Private Limited, registered office at 3rd Floor, Raj Alkaa Park, Kalena Agrahara, Bannerghatta Road, Bangalore-560076
Agreement Details
- Agreement No: BWR/26-27/C/1239
- Execution Date: 03 November 2026
- Location: Bangalore
Monitoring Scope and Responsibilities
Brickwork Ratings will monitor 100% of the Gross Proceeds from the Issue until complete utilization. The monitoring includes:
- Reviewing utilization of Gross Proceeds according to the Objects of the Issue stated in the Offer Document
- Issuing Monitoring Reports in the format prescribed under Schedule XI of SEBI ICDR Regulations
- Submitting reports on a quarterly basis (or other frequency as prescribed by SEBI)
- The Monitoring Agency will rely on certificates from statutory auditors/peer-reviewed audit firms, bank statements, and declarations from company management
- Right to inspect company records, registers, and accounts with prior notice
- May issue qualified reports if unsatisfied with company representations
Company Obligations
Faalcon Concepts must:
- Establish an Issue Monitoring Account for depositing Gross Proceeds
- Provide all required information/documents within 7 working days after each quarter end
- Submit certificates from statutory auditors/peer-reviewed audit firms within 10 calendar days after each quarter
- Provide declarations from Chief Financial Officer, Company Secretary, Compliance Officer, or other authorized signatories
- Place Monitoring Reports before the audit committee for comments
- Publicly disseminate reports on its website and submit to stock exchanges within 45 calendar days after each quarter
- Submit quarterly statements to stock exchanges on deviations in utilization of proceeds
- Pay monitoring fees and reimburse expenses as per Annexure B
Financial Arrangements
The Company shall pay a non-refundable fee plus applicable indirect taxes (including GST), statutory dues, levies, and any travel and out-of-pocket expenses incurred by Brickwork Ratings. The commercial terms and fee structure are detailed in Annexure B attached to the agreement.
Reporting and Disclosure Requirements
- Monitoring Reports must be issued until 100% of Gross Proceeds are utilized
- Reports must follow SEBI-prescribed format in Schedule XI of ICDR Regulations
- Company must publicly disclose reports within 45 calendar days after each quarter
- Company must submit deviation statements to stock exchanges quarterly
Legal and Regulatory Framework
The agreement is governed by:
- SEBI ICDR Regulations
- Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015
- Companies Act, 2013
- Other applicable Indian laws and regulations
Term and Termination
The agreement is effective from 03 November 2026 and continues until:
- 100% of Gross Proceeds are utilized and final report submitted
- Termination as per SEBI regulations
- Either party may terminate with 30 days prior written notice, subject to SEBI approval requirements
Limitations and Disclaimers
The Monitoring Agency:
- Is not required to verify authenticity of provided information/documents
- Does not act as an expert under Section 2(38) of Companies Act 2013
- Does not provide audit, fraud detection, or forensic services
- Cannot approve/disapprove withdrawals from bank accounts
- Relies on certificates from auditors and company management
- The report is not an investment recommendation
Indemnification
The Company shall indemnify Brickwork Ratings against all direct and reasonable costs, losses, and damages incurred due to breach of agreement or provision of false/misleading information, except in cases of willful misconduct, gross negligence, or fraud by the Monitoring Agency.
Governing Law and Jurisdiction
The agreement is governed by Indian law, with exclusive jurisdiction of courts in Mumbai for any disputes.