SC rejects Director’s argument that he was not being in charge of affairs

SUPREME COURT OF INDIA N. Narayanan Versus Adjudicating Offficer, SEBI K.S. RADHAKRISHNAN AND DIPAK MISRA, JJ. CIVIL APPEAL Nos. 4112-4113 of 2013 D.No. 201 of 2013 APRIL 26, 2013 JUDGMENT K.S. Radhakrishnan, J. India’s capital market in the recent times has witnessed tremendous growth, characterized particularly by increasing participation of public. Investors’ confidence in the capital market can be sustained largely by ensuring investors’ protection. Disclosure and transparency are the two pillars on which market integrity rests. Facts of the case discl...