Fines of Rs 2 lakh each have been imposed on Nadella and LinkedIn CEO Ryan Roslansky, respectively.
The Indian government has a Rs 27,10,800 fine on Microsoft CEO Satya Nadella, LinkedIn India which Microsoft owns, and eight other individuals for violation of the significant beneficial owner norms under the companies law. Microsoft acquired the professional networking platform LinkedIn in December 2016.
In a 63-page order, the Registrar of Companies (NCT of Delhi & Haryana), which comes under the Corporate Affairs Ministry, said that LinkedIn India and the individuals violated the Significant Beneficial Owner (SBO) norms under the Companies Act, 2013.
"... 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 1st June 2020 and started reporting to Satya Nadella," the RoC said in the order.
Section 90 of the Act pertains to SBO. It requires companies to disclose SBO details. 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.
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Who all are fined?
For SBO norms violations, a penalty of Rs 7 lakh has been slapped on LinkedIn India. Fines of Rs 2 lakh each have been imposed on Nadella and LinkedIn CEO Ryan Roslansky, respectively.
Other individuals who have been fined are Keith Ranger Dolliver, Benjamin Owen Orndorff, Michelle Katty Leung, Lisa Emiko Sato, Ashutosh Gupta, Mark Leonard Nadres Legaspi and Henry Chining Fong. LinkedIn India has been set up as a subsidiary of Microsoft Group. An appeal can be filed against the order with the Regional Director (NR) within 60 days from the date of receipt of this order.
(With inputs from PTI)
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 "Centre slaps Rs 2710800 fine on Microsoft CEO Satya Nadella, 8 others for violating...")
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