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Section 15h – The Securities and Exchange Board of India Act, 1992

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.

 

 

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The Securities and Exchange Board of India Act, 1992

 

Indian Laws – Bare Acts

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