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The dc capacitors voltage unbalancing is the main technical drawback of a diode-clamped multilevel inverter (DCMLI), with more than three levels. A voltage-balancing circuit based on buck-boost chopper connected to the dc link of DCMLI is a reliable and robust solution to this problem. This study presents four different schemes for controlling the chopper circuit to achieve the capacitor voltages equalisation. These can be broadly categorised as single-pulse, multi-pulse and hysteresis band current control schemes. The single-pulse scheme does not involve faster switching actions but need the chopper devices to be rated for higher current. The chopper devices current rating can be kept limited by using the multipulse scheme but it involves faster switching actions and slower response. The hysteresis band current control scheme offers faster dynamics, lower current rating of the chopper devices and can nullify the initial voltage imbalance as well. However, it involves much faster switching actions which may not be feasible for some of its applications. Therefore depending on the system requirements and ratings, one of these schemes may be used. The performance and validity of the proposed schemes are confirmed through both simulation and experimental investigations on a prototype five-level diode-clamped inverter.