 Welcome back to the module on corporate governance and today we are going to start off on the obligation to investors. We were in the past session talking about good corporate governance and mostly about the importance of stakeholders and how an organization, a corporate institution, a corporate entity can be transparent, can be accountable, can ensure that there is an element of trust between the different stakeholders and in amongst the stakeholders there is always the very pivotal position of the shareholder. So today's session is going to be about the obligations to investors and that basically means the shareholders which are extremely important. Now when we are talking about the shareholders then what should be the alignment and the calibration of the organization that is extremely important because they are a prime stakeholder, they are the ones who have financed, they are the ones who have put in a lot of money, a lot of effort and again they also have higher expectations than the other stakeholders. So we can say that they are a primary stakeholder in the whole ecosystem of a corporate entity. Now the most important thing is commitment to enhance shareholder value, compliance with regulations and laws that govern shareholder rights. Now this is very important that there are shareholder rights, there are minority shareholder rights and then a very important thing is that what type of rights do they have which would ensure that their investment is protected. There is information and disclosure by the board of directors because that board of directors is directly responsible to the shareholders. Every employee should strive for the implementation and compliance with his professional environment. Now these are extremely important points that not only is the board responsible but the employees are also responsible and it is a very important aspect that there has to be proper declaration of information and also to ensure that there is no window dressing and that the shareholders are given the right and exact information so that they can protect their own rights in the short term and also in the long term. So again ladies and gentlemen the investor or the shareholder is the primary stakeholder in this whole ecosystem. Now when we look at the different measures to promote transparency and inform shareholder participation so what we see is that informed attendance and meaningful participation by shareholders in matters relating to their companies and ideal corporate should address this issue and relate more meaningful and transparent accounting and reporting. So again ladies and gentlemen what we are seeing is that the shareholder must be getting the right information at the right time that nothing should be window dressed that there should be no cover ups and all the right information should be given to them and again it is not the majority shareholder only it is the minority shareholder and also the majority shareholder and again the board or the employees should not have any distinction because it is their professional obligation and duty to ensure that they do the right thing and conduct themselves diligently and also ensure that there is transparent accounting and reporting. So this is very very important and usually many corporate entities tend to forget their role and also their obligations. Now in the context of transparency that we were talking about decisions taken and their enforcement are done following rules and regulations information is freely available and directly accessible to those who will be affected by such decisions and their enforcement enough information is provided that it is provided in easily understandable forms and media. So again it is also very important that the shareholders understand that if the management or the board of directors is taking a decision why were those decisions taken what were the facts behind it what was the situation what were the different options and how did that decision come to place was their discrimination was their bias was their favoritism was their particular preference or was it a merit oriented transparent and across the board decision which was taken and it had to be based upon the rules regulations and policies not only of the company but also of the land. So that is also very important that there should be no unlawful decision which is taken and then a very important thing is is that how is that information provided. Now in this age of digitization and also of information technology the best way is to utilize the internet information technology and digitalization rather than using the conventional methods of sending it by post or some other way of communicating. So one should try to catalyze and encapsulate digitization in the dissemination of information so that the shareholder has timely information based upon which he or she can take their own decisions about the investment they have done in that particular company. So that is also very extremely important then just like I was mentioning earlier the financial reporting and the records this is very important because this is where the real test of diligence has taken place and also of financial integrity. It is the duty and obligation and responsibility of the board and of those employees involved in financial transactions that they should be absolutely done honestly and must be done according to law rules and regulations. Now when we look at it so preparation and maintenance of accounts and its business affairs internal accounting and order procedures shall be fairly and accurately reflect all of the company's business transactions and disposition of assets. They shall be no willful omission of any transaction from the books and records no advance income recognition and no hidden bank accounts and funds. So again very clearly according to the different codes of conduct and corporate governance there can be no hanky panky there can be no playing around they can be no window dressing they can be no secret accounts or funds they can be no secret transactions and they can be no cover-ups in the financial aspects of a particular company. It has to be clear it has to be vivid it has to be honestly displayed it has to be done in such a way that people understand it and it should not be played around with and this is something which is of utmost importance and priority in any company and that is actually ensuring shareholder or investment protection. So that is very important and again ladies and gentlemen it is extremely important to understand that we cannot compromise on the rights and obligations and the importance of the investor or the shareholder because they are the primary stakeholder for which actually the whole organization should be focused but again it does not mean that in all of this they actually exceed the rules regulations or the laws they have to remain within the provided frameworks and ensure that neither should they damage the investor or shareholder nor should they give any undue advantage to any shareholder or any investor. Thank you so much very kind.