The Securities and Exchange Board of India Act, 1992
15H PENALTY FOR NON-DISCLOSURE OF ACQUISITION OF SHARES AND TAKE-OVER.
If any person, who is required under this Act or any rules or regulations made there under, fails to, –
(i) disclose the aggregate of his shareholding in the body corporate before he acquires any shares of that body corporate; or
(ii) make a public announcement to acquire shares at a minimum price,
he shall be liable to a penalty not exceeding five lakh rupees.
The Securities and Exchange Board of India Act, 1992
