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As markets in all parts of the world are growing rapidly due to the effects of liberalization, ,privatization and globalization more transactions are carried out there is need that the regulatory mechanism is to be strengthen so that the transactions will be carried out in smooth and transparent manner. Take over laws are very helpful in regulation of all the companies whose shares are quoted on the stock exchange. In certain circumstances the regulation also applies to certain unlisted companies. Take over code fixed the limit on the share holders up to which a person can acquire the shares of the company. In order to deal with the changing trends in the market and economy, there is need of more appropriate take over laws.