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"We comply with the laws of the countries we operate in. We are reviewing the order to determine next steps". The penalties have been imposed on LinkedIn India, Microsoft chairman and chief executive Satya Nadella, LinkedIn chief executive Ryan Roslansky and seven others. Microsoft acquired LinkedIn in December 2016.
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.
Satya Nadella is the chief of Microsoft, which acquired the professional networking platform LinkedIn in December 2016.
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.