The Central Government has fined Microsoft CEO Satya Nadella and eight LinkedIn officials Rs 2 lakh each for violating the Significant Beneficial Owner (SBO) rules under the Companies Act, 2013. LinkedIn India, under Microsoft's leadership, failed to identify and report its key beneficial owner to the government. Additionally, LinkedIn Corporation has been fined Rs 7 lakh, totaling Rs 27,10,800 in penalties.
This list of fined officials includes Satya Nadella and LinkedIn Corporation Global CEO Ryan Roslansky, among others. Roslansky, appointed as CEO on June 1, 2020, has been reporting to Nadella since then but failed to comply with SBO regulations. The Ministry of Corporate Affairs has directed LinkedIn to provide the necessary information. According to the Companies Act, companies must share SBO information with the government, which LinkedIn failed to do. The Ministry of Corporate Affairs intervened, imposing these penalties. LinkedIn was acquired by Microsoft in December 2016.
