Pratap Bhanu Mehta’s article in the Indian Express on the devil being in the detail of educational reforms is very interesting. It makes us look around for successful models and one that strikes the eye is obviously the Stock Exchange mechanism — that is perhaps one of the most successful model that has emerged from Indian reform process. To see if this model can be used as a reference, let us see some of the regulatory issues that a “company” needs to address before it can transact business and earn money.








