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<h1>Penalty for non-disclosure of share acquisitions: monetary sanctions and profit-based penalties apply for specified takeover failures.</h1> Failure to disclose aggregate shareholding before acquiring shares, to make a required public announcement to acquire shares at the minimum price, to make a public offer by sending a letter of offer, or to make payment of consideration to shareholders who sold pursuant to a letter of offer, results in statutory liability to a monetary penalty as specified by the statute.