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Nadella fined in LinkedIn case
The Corporate Affairs Ministry on Wednesday slapped fines on Microsoft-owned LinkedIn India, Satya Nadella and eight other individuals for violation...
The Corporate Affairs Ministry on Wednesday slapped fines on Microsoft-owned LinkedIn India, Satya Nadella and eight other individuals for violation of the significant beneficial owner norms under the companies law. Nadella is the chief of Microsoft, which acquired the professional networking platform LinkedIn in December 2016.
In a 63-page order, the Registrar of Companies (NCT of Delhi & Haryana) said that LinkedIn India and the individuals violated the Significant Beneficial Owner norms under the Companies Act, 2013. According to the order, the company and its officers are liable for action for the failure to take necessary steps to identify the SBO in relation to the company.
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.
