IT'S the one act that Hollywood dreads. The spectre of video and cable piracy in Indiaókept alive by swarms of unscrupulous, faceless, fly-by-night operatorsóhas haunted the American studios for years, nibbling away at their bottomline with virtual impunity. According to industry estimates, it robs the studios of at least 40 per cent of their potential earnings in the country every yearóthe cumulative annual loss is believed to be a whopping $66 million. It couldn't any longer have been left to the forces of nature to sort out, so the Motion Pictures Association (mpa), which represents the Hollywood majors the world over, has swung into action in right earnest.