I am not aware of the complexities thta hese PN notes might have along with the hedge funds in themarket. But I am sure Indian stock market beig still in an experimental stage of its maturity-has sufficient loop holes to be exploited by these FIIs. If a mature market like that of the US could be manipulated forthe wizkids arm twisting of Indian financial set up is nothing hsort of child-play. Remember how the SE nations were brought down by these very FIIs when the going got tough for them-just a decade earlier. An overexposure could sure land India in a similar soup, no matter how strong you are. There are limits even for the toughest and even an elephant cannot bear the brunt all the time. Its time we are on the watch NOW.
