Note that the investors have always been the gullible ones who lost their monies due to external factors waiting for their monies to mature over an ultra longish time frame. In India, they have been so far taken for a big ride.
The following is a comprehensive read. Seems very well researched too.
https://www.livemint.com/money/pers...ators-have-cost-you-money-11575175049203.html
Investors’ Loss: This is the first of a four-part series on the Indian investor who has always paid for lax regulations, misuse, fraud, mis-selling and poor corporate governance of the financial sector. The series maps why Indian investors have lost money in products they buy from the regulated part of the market and the regulatory risks they face.