The government has penalized Microsoft-owned LinkedIn for failing to disclose significant beneficial owners.Laws mandate companies to identify significant beneficial owners to enhance transparency
Rs 27 Lakh Penalty On Microsoft CEO Satya Nadella For Breaking Indian Laws - Trak.in - Indian Business of Tech, Mobile & Startups trak.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from trak.in Daily Mail and Mail on Sunday newspapers.
The Registrar of Companies (RoC) stated that LinkedIn India and the individuals failed to comply with the SBO disclosure requirements stipulated in Section 90 of the Act.
LinkedIn is reviewing penalties imposed by the Ministry of Corporate Affairs for violating SBO norms. The Rs 27.1 lakh fines target LinkedIn India, Microsoft s CEO Satya Nadella, CEO Ryan Roslansky, and others. The order requires disclosure of significant beneficial owners, penalizing non-compliance. Appeal options are available within 60 days.