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Directors Of Public Listed Cos Have Greater Responsibility: SC

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The Supreme Court made scathing remarks against Pyramid Saimira (PSTL) in the case on the company manipulating the securities market. The apex court said, “Facts of the case show how investor confidence was eroded and how the market has been abused for personal gains and attainment.” The Supreme Court dismissed appeals by PSTL Director N. Narayanan. Rejecting Narayanan’s contention of being responsible for HR, it said that directors of public listed companies have greater responsibilities.