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

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....ertain 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 other persons to hold office as direct....