BJP leader, Kirit Somaiya demanded enquiry into the role of the regulators and the finance ministry in the recent crash in the stock markets in India. Kirit Somaiya is also a founder of investor's forum. He obliquely held responsible, the LIC chairman and finance minister P Chidambarm, for adverse market conditions and for acting against the interests of investors. He apprehended that LIC is following in the footsteps of UTI.

He said that the country has no faith in the finance minister, P Chidambaram. He encouraged small investors to remain invested despite the adverse market conditions. His assurances only helped the big players such as the real estate majors, while small investors got ruined. Mr. Somaiya demanded intervention of Prime Minister in the matter.

Kirit Somaiya said that the money of small investors, invested in the financial instruments like mutual funds, ULIPs, IPOs, and Fixed Maturity Plan (FMP) was used by real estate sector. Large number of funds from banks, foreign financial institutions, private equity and hedge funds, non-banking financial institutions (NBFCs) were also allowed in real estate. He demanded enquiry into the crash in the share prices of real estate firms from the SEBI and the Department of Company Affairs.