 Good to see all of you back and we are moving on to the next chapter, we were previously studying the different frameworks and the different regulations and the different laws which exist and especially the Serbanes Oxley Act 2002 which is very important. But now we are going to move forward and try to understand the corporate stakeholders and their interest. Now when we look at stakeholders then when we are talking about them in any form of business organization there will be different stakeholders with varying interest without who support the organization ceases to exist. The interest of some stakeholders at some point of time may be complementary while at others it may be contradictory. So again ladies and gentlemen when we are looking at the stakeholders then they can be internal stakeholders they can be external stakeholders they can be primary stakeholders secondary stakeholders tertiary stakeholders satellite stakeholders so again there are many different types of stakeholders and when we are looking at these stakeholders sometimes or most of the time these stakeholders are complementing are reinforcing are adding on are optimizing our profits and our revenues but in many cases there can also be possibility that they are contradictory and can also be causing regression of the organization. So it is very important that a comprehensive stakeholder analysis is done and again there are different ways of conducting stakeholder analysis so that we can understand who are the internal stakeholders the external stakeholders and those stakeholders what is their role how are they interfacing what are they contributing what are they taking and what are the consequences what is the impact what is the objective so all of these things are very important for any organization and to identify the stakeholders and then to assimilate and comprehend how those stakeholders would be interfacing with the organization is extremely important now when we look at these stakeholders just like I was mentioning that primarily and broadly speaking they are internal and there are external stakeholders and there are other forms of stakeholders but right now at this particular stage we will be looking at these two now when we look at the internal stakeholders then these internal stakeholders are those who engage in economic transactions with the organization for example they could be the owners the employees and the managers external stakeholders are those who do not engage in direct economic transaction but their actions can affect the business examples the government the suppliers the creditors and when we are going to be looking at a particular table this is a very interesting table that I am going to be sharing with you that if you look at the corporate stakeholders and their interests then the shareholders they their interest is value maximization profitability liquidity growth and market price while the employees and trade union want benefit maximization quality of work and life the government is more interested in taxes employment true reporting and diversity while the creditors want liquidity and debt servicing the customers are interested in the quality in the price the care the post the post sale services maintenance and other issues the community wants to have jobs and environment protection and most importantly equity manner based and also compassionate institutional investors are identifying and hooked on to the share price and the corporate image as a whole while the competitors want to have fair business and again a fair competition so again what we see is is that the corporate stakeholders can be many and there many more beyond all of these but these are the ones which usually are fixed into any particular business and we can identify them in a better way to ensure that everything is done to a balanced approach within the legal framework according to the given laws and there are no conflicts of interest and they do not superimpose on each other so that a healthy economy can be emerging or can emerge as a consequence of good governance and corporate governance thank you so much