The Ministry of Corporate Affairs has fined Zerodha Asset Management and its top executives, including founder Nithin Kamath, for not appointing a chief financial officer (CFO) on time. Zerodha AMC violated Section 203 of the Companies Act, 2013, which requires companies with over ₹10 crore paid-up capital to have a full-time CFO. The fines include ₹5 lakh for the company and ₹4.08 lakh for Kamath. Other executives, including Director Rajanna Bhuvanesh and CEO Vishal Virendra Jain, also face penalties. The delay lasted from December 2021 until March 2023, when Chintan Bhatt was finally appointed as CFO. The company and its directors have 90 days to pay the fines.