Zerodha Asset Management, key managerial personnel, penalised for failure to appoint CFO

Zerodha filed a suo-moto application on January 9, addressing the non-appointment of a CFO between December 20, 2021, and March 23, 2023. This filing led to the MCA's hefty penalty against the company. This penalty comes at a time when new-generation asset management companies like Zerodha Fund House target retail and small-town markets for long-term growth.