Zerodha Asset Management fined over CFO appointment; read govt’s penalty notice

Zerodha Asset Management was fined by the Ministry of Corporate Affairs for not appointing a CFO on time, violating Section 203 of the Companies Act. The firm admitted to the lapse, operating without a CFO from December 2021 to March 2023, leading to penalties totaling Rs 5 lakh. The company is appealing the decision.