Mehraboon Irani of Darashaw and Company says that investors are very scared and the market is rife with speculations.

Excerpts from CNBC-TV18's exclusive interview with Mehraboon Irani:

Have you got any details on whether there have been any problems in terms of pay ins yet or is it still early days?

No, not yet. In fact, that is the worrying fact. But there is no signal as of now.

In this 300-point fall, is there any indication that perhaps the pay in is getting into a bit of trouble?

Definitely yes, basically people are very scared. All sorts of reports are floating in the market. But still there is no clarity on that point. Hence, it is not fair to comment on that part. As of now, there are lots of speculations and a lot of fear but there is no proper signal.