Govt slaps penalty on Nithin Kamath, Zerodha AMC for this violation; company files appeal

Zerodha Asset Management Company and its founder, Nithin Kamath, were penalized by the Ministry of Corporate Affairs for delaying the appointment of their Chief Financial Officer. The fines amounted to Rs 5 lakh for the company and Rs 4.08 lakh for Kamath. Zerodha has filed an appeal, asserting the delay was not deliberate.