The class action suit: A challenge for protection of interest of investors
Dr. Gyanendra Kumar Sahu
Capital market has emerged as a powerful tool of socio- economic growth in the post globalised world. It has attracted the investors from socio-economic groups, big and small. Historically, the ups and downs in the securities market has always played a significant role in shaping the life and economy of the nation. Thus, investors' confidence in the capital market which is ought to be based on a sound financial system of transparency and efficient system of protection and justice has assumed an important role for any developed / developing economy .To strengthen the securities market and to gain investors' confidence, the past decade witnessed wide ranging legislative interventions. so as to protect investors ' interest in securities, promote development and regulate securities market. Class action law suits as a convenient mode of realisation of securities interest and protection thereof has gained currency in western countries like USA and UK. As securities investment is a largely growing feature of Indian economy and society, it is imperative that India shapes it's legal framework to make class action suit a reality for securing the interest of Indian investors.