"We trust that you will avoid using harsh language and will refrain from making unsubstantiated allegations against individuals and firms. Your constructive feedback and opinions are very valuable to all of us in the industry. "
Jaideep, You have perfectly analysed briefly what was required to be commented upon! Contrats & Thanks !!
A fundamental question that I have for SEBI is on "conflict of interest". Any businessman or even salaried person sells what affects his livelihood first, not necessarily what is the best for his client. This ideal conflict of interest attitude is like saying that if TCS and Infosys make competing products and if the TCS product is technically better, you would expect Vishal Sikka of Infosys to tell that to his clients ! This conflict of interest pertains to any field, so I cannot understand why the financial services are singled out. Sadly, SEBI seems to find the MF industry as the ideal guinea pig, while far bigger issues in the equity and debt markets do not concern it.