i happened to read your article as a friend forwarded me your article via mail . Had it not been for that article i wouldnt have got to know that the parliament had discussed the indian capital market in detail. Your article on PMS reminded me of one instance where kotak had tried to fool me but i cut my losses early. This was in 2006-7 . They were given 30L to handle and they bought a single textile stock with that money! i was startled and thankfully being a CFA i knew something was seriously not right and i cut my losses immediately. That stock eventually crashed 70% from the aqcuisiton price of kotak fund manager. i wonder how so many of the ipos get subscribed even though its clear they are selling to public at insane prices, manipulating . anil ambani should be behind bars for what has happened in his company but they cant even keep raju behind bars so anil is a far way off!mukesh pulled it off with rpl but the mouds operandi was the same. what they are doing is driving away a whole generation of investors away from the market . Same is with insurance companies. they have been looting investors by selling ULIPs and its a little late in the day for IRDA to crack the whip i feel. They are all partners in crime and what they dont understand is that they are killing the golden goose. A country with such low insurance penetration should have a boom in insurance. however because of greed of a few people , the public is being looted and insurance is largely being seen as an industry of thugs and the law makers are simply turning a blind eye. India is in a very intresting position today in world economy but sadly a few people have hijacked the system but what they dont realise is that in order to be a billionaire they will have to make a few millionaires. the sooner the govt starts genuinely encouraging retail investors, punish the guilty promoters, auditors , lead managers , merchant bankers etc, i think it will be difficult to get retail and hni back as you have broken their back. for the time being though i have taken it upon myself to be more aware as my ignorance is as much to blame for the mess. KEEP UP YOUR GREAT REPORTING.