Corporate Affairs Ministry Fines LinkedIn India, Nadella, and Others for Companies Law Violations
The corporate affairs ministry has imposed fines on Microsoft-owned LinkedIn India, including its CEO Satya Nadella and eight other individuals, for violating significant beneficial owner norms under the Companies Act. In a 63-page order, the Registrar of Companies (NCT of Delhi & Haryana) cited violations of the Companies Act, 2013. The RoC has slapped penalties totalling Rs 27,10,800 on LinkedIn Technology Information Pvt Ltd or LinkedIn India, Nadella, LinkedIn CEO Ryan Roslansky and seven other individuals. According to the order, Satya Nadella and Ryan Roslansky, the global CEO of LinkedIn Corporation, are considered significant beneficial owners and are liable for penalties under Section 90(10) of the Act. The penalties amount to a total of Rs 27,10,800, with fines ranging from Rs 2 lakh to Rs 7 lakh imposed on LinkedIn India, Nadella, Roslansky, and other individuals involved. The violations pertain to the failure to disclose significant beneficial owner details as requ...