Quick Summary
The Corporate Affairs Ministry on Wednesday imposed fines on Microsoft-owned LinkedIn India, its top executives including CEO Satya Nadella, and eight other individuals. The penalties, totaling Rs 27,10,800, were levied for breaches of the Significant Beneficial Owner (SBO) norms under the Companies Act, 2013. Background and Details of the Order Satya Nadella, the CEO of Microsoft, which acquired LinkedIn in December 2016, alongside LinkedIns current global CEO Ryan Roslansky, were found t
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FAQ :
Microsoft CEO Satya Nadella, LinkedIn India, its global CEO Ryan Roslansky, and eight other individuals have been fined.
The fines were imposed for breaches of the Significant Beneficial Owner (SBO) norms under the Companies Act, 2013, specifically the failure to report their SBO status.
The total amount of the fines imposed is Rs 27,10,800.
LinkedIn India was fined Rs 7 lakh for violating SBO norms.
Yes, LinkedIn India and the penalized officers have the option to appeal the decision with the Regional Director (Northern Region) within 60 days of receiving the order.
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