LinkedIn India, Satya Nadella Fined ₹27 Lakh for Significant Beneficial Owner Violations
On Wednesday, the Corporate Affairs Ministry of India imposed a significant fine on Microsoft-owned LinkedIn India, including Satya Nadella and eight other individuals, for violating significant beneficial owner (SBO) norms under the Companies Act. In a detailed 63-page order, officials noted that LinkedIn India and nine others breached the SBO norms stipulated by the Companies Act of 2013. The order specifically mentioned, “Satya Nadella and Ryan Roslansky are the SBOs in relation to the subject company and are liable to a penalty under section 90(10) of the Act, due to their failure to report as per section 90(1).” Ryan Roslansky was appointed as the global CEO of LinkedIn Corporation on June 1, 2020, and began reporting to Satya Nadella. The order outlined the liabilities of LinkedIn officers for not taking necessary steps to identify the SBOs. Consequently, the Registrar of Companies (RoC) fined LinkedIn Technology Information Pvt Ltd a total of ₹27,10,800. This fine encompas...