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Zerodha Asset Management, key managerial personnel, penalised for failure to appoint CFO

Economic Times · 8m

The Ministry of Corporate Affairs (MCA) has imposed penalties on Zerodha Fund House and its key personnel for failing to appoint a CFO, as required by the Companies Act. The penalties include a maximum fine of Rs 5 lakh on Zerodha Fund House and fines ranging from Rs 1.5 lakh to Rs 5.08 lakh on key personnel. The company and its personnel must pay the penalties within 90 days. Zerodha Fund House recently received approval to launch its asset management venture and was seeking external funding.