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        <h1>SEBI Clarifies Role of Public Representatives on Subsidiary Boards; Current Members to Stay Until New Appointments.</h1> The circular from the Securities and Exchange Board of India (SEBI) addresses the restructuring of subsidiary management, specifically clarifying the role of Public Representatives on the Boards of Subsidiary Companies. It states that current Public Representatives will remain in their positions until new appointments are made. This clarification is in response to queries regarding a previous circular issued in February 2003 concerning the reconstitution of governing boards.

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