While Panchala was a powerful monarchy during the Later Vedic epoch, what major institutional political transformation did it experience by the time of the fifth century BCE as recorded in historical chronicles?

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Panchala tracks a fascinating political evolution. It was the absolute peak zone for orthodox Vedic monarchies. However, by the time of the fifth century BCE, as recorded in sources like Kautilyas Arthashastra, the single ruler framework decayed and was systematically replaced by an oligarchic constitution, transforming Panchala into a republic managed by an assembly of chiefs.

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