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of <h1>SEBI Regulation 29A: Relaxation for Companies with Government-Replaced Boards to Ensure Fairness and Public Interest.</h1> Regulation 29A of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997, allows the Securities and Exchange Board of India to relax certain provisions of Chapter III when a target company applies for it. This is applicable if the government or a regulatory authority has replaced the company's board of directors for orderly management. The new directors must devise a transparent and competitive plan for the company's operation, ensuring fairness and public interest. The provisions may be relaxed if they hinder the implementation of this plan, benefiting investors and the securities market.
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