On May 22nd, the Ministry of Corporate Affairs (MCA) charged fines on Microsoft-owned LinkedIn India, Mr. Satya Nadella and eight other individuals for violation of the significant beneficial owner norms under the company’s law. Mr. Nadella is the chief of Microsoft, who acquired the professional networking platform LinkedIn in December 2016.
The Registrar of Companies (RoC), in their order, stated, “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 has slapped penalties amounting up to Rs 27,10,800 on LinkedIn Technology Information Pvt Ltd or LinkedIn India, Nadella, LinkedIn CEO Ryan Roslansky and seven other individuals — Keith Ranger Dolliver, Benjamin Owen Orndorff, Michelle Katty Leung, Lisa Emiko Sato, Ashutosh Gupta, Mark Leonard Nadres Legaspi and Henry Chining Fong.
For SBO norms violations, a penalty of Rs 7 lakh was slapped on LinkedIn India, and fines of Rs 2 lakh each have been imposed on Nadella and Roslansky, respectively. An appeal can be filed against the order with the Regional Director (NR) within 60 days from the date of receipt of this order.
