 We are on our journey of corporate governance and we are looking at its various stakeholders, its various perspectives, its various interpretations and its various implications and its imposition at a local, institutional, national and global dimension. Now when we are looking at corporate governance then it is very important to understand that it is a process of continuous learning. We have seen in the past how history has changed corporate governance, how the contextualization of corporate governance has changed the role and the way corporations basically work internally and externally. We have seen how different stakeholders tend to have different interests and the government being the largest stakeholder has a regulatory context in all of it and therefore understanding it becomes much more important. Another thing is that bad kismat hai wo shaks jis ka aaj guzhara vikaal se beto nahi or bad kismat hai wo organization jis ka aaj guzhara vikaal se beto nahi and that basically means that we are all in a continuing learning phase and public and corporate governance systems have to be evolutionary and accommodating the needs, desires and implications of that particular time and the times to come and to ensure that all stakeholders and shareholders rights are basically protected. Oscar Wilde said something very interesting and that while talking about fraud, the thief is an artist and the policeman is only a critic. Something which carries immense philosophical value that again when we are talking about corporate governance and its misgovernance then definitely there are so many contextuals and so many dimensions and so many ways of doing it and the policeman or the regulatory bodies are only the critics and seeing what is being done right and what is being done wrong. So, all of this is basically taking place. This does not mean that systems are always outdated. So, there are certain things which can keep on continuing. There are various universal laws and then again there are various morality issues which are universal but there are various ethical issues which are universal and therefore they do not get outdated. But with the advent of technology, with the advent of globalization, with the advent of global businesses and most importantly the speed of communication and the way the mindset and attitudes are changing therefore evolution becomes necessary and systems have to accordingly adjust themselves. The efforts to devise a system that can ensure better governance are critical. Therefore it has to be the responsibility of the government and of the other stakeholders that they keep on improvising their systems, their processes and their frameworks so that better governance can prevail and again keep a balance and counter check on all of those individuals who are trying to break the system, who are trying to compromise the corporate governance framework and mechanisms and that becomes very important and then again when we are talking about technology creating problems then technology is also creating solutions and that is extremely important. There is a need of wide range of acceptance of stakeholders perspective. Governance should be understood as a construct which includes the accountability of the entity to all of its stakeholders. So, again the very essence of accountability of transparency, of meritocracy, of ensuring that there is an ethical approach to the different mechanisms of an organization is very important because otherwise what we can see is that they could result in total chaos and could also then result in many detrimental implications for global economy, for national economy and also for the institutional economy and that is extremely important. Governance is as much a political process as it is economic unlike management which is only economic. So, again ladies and gentlemen what do we see is that when we are talking about management then we usually are talking in the economic context of efficiency and effectiveness but governance has its own political connotations also and it is about managing interests, creating a balance and also ensuring that no one interest tends to overwhelm the other interest and that is what governance is all about. Corporate governance is about catering to the environment in which the corporation basically operates. Corporate governance is concerned with the rule of law in the company and good governance is basically about the leadership of the entity which has to manifest states person like behavior. So, ladies and gentlemen what we are basically seeing is that in the whole greater embryoil of and glossome of corporate governance we basically see that one we are talking about environment, two we are talking about rule of law and three we are talking about leadership and the implications of that leadership and therefore when we are talking about states person like behavior then we are talking about someone who will watch the interest of all the shareholders and all of the stakeholders and that is very important in corporate governance and this is a process which is continuing and improving from different parameters from different spheres from different dimensions and definitely it is not time locked it keeps on moving forward and caters to the needs of the stakeholders and the shareholders. Thank you so much.