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MCA slaps fines on LinkedIn India, Satya Nadella, 8 others for companies law violations

Economic TimesEconomic Times · 5m
MCA slaps fines on LinkedIn India, Satya Nadella, 8 others for companies law violations

Microsoft-owned LinkedIn India, along with its CEO Satya Nadella and eight other individuals, has been fined by the corporate affairs ministry for violating norms under the companies law. The Registrar of Companies (NCT of Delhi & Haryana) found LinkedIn India and the individuals to be in violation of the Significant Beneficial Owner (SBO) norms. Penalties amounting to Rs 27,10,800 have been imposed, with LinkedIn India facing a penalty of Rs 7 lakh and Nadella and LinkedIn CEO Ryan Roslansky each facing fines of Rs 2 lakh. The company and its officers failed in their obligations to identify the SBO and send the required notice, leading to additional penalties under section 450.

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