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Relaxation from the strict compliance of provisions of Chapter III in certain cases.

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....of provisions of Chapter III in certain cases. 29A. The Board may, on an application made by a target company, relax any or more of the provisions of this Chapter, subject to such conditions as it may deem fit, if it is satisfied that- (a) the Central Government or State Government or any other regulatory authority has removed the board of directors of the target company and has appointed ot....

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