TaxTMI 
TaxTMI 
Exemptions by the Board
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....ations subject to such conditions as the Board deems fit to impose in the interests of investors in securities and the securities market. (2) The Board may for reasons recorded in writing, grant a relaxation from strict compliance with any procedural requirement under Chapter III and Chapter IV subject to such conditions as the Board deems fit to impose in the interests of investors in securities....
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....le and fair; (iii) the process adopted by the board of directors of the target company provides for details including the time when the open offer for acquiring shares would be made, completed and the manner in which the change in control would be effected; and (b) the provisions of Chapter III and Chapter IV are likely to act as impediment to implementation of the plan of the target company an....
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....pecified by the Board from time to time.] (5) The Board may after affording reasonable opportunity of being heard to the applicant and after considering all the relevant facts and circumstances, pass a reasoned order either granting or rejecting the exemption or relaxation sought as expeditiously as possible: Provided that the Board may constitute a panel of experts to which an application for a....