Celebration of Annual Day on 10th July, 2003.

This was the first time CFBP organized an Annual Day for our members.

Shri A. K. Batra member of SEBI was the Chief Guest while Shri Shailesh Haribhakti was Guest of Honour at the Annual Day function held on 10th July, 2003.

Shri V. S. Palekar welcomed Shri Batra, the Chief Guest, Shri S. Haribhakti, Guest of Honour and the distinguished audience. He elaborated about CFBP activities as a unique organization - representing manufacturers, professionals simultaneously working for the consumer welfare. He told the audience that this year CFBP adopted a New Mission, Vision and Code of Conduct, which are more relevant in today’s changed social and economic situation. - Self regulation is necessary rather than others regulating us. The buying decision is made on the basis of reputation of manufacturers, professionals etc. It is with this view CFBP and its Code of Conduct was relevant, as the consumer would prefer to deal with a member of CFBP following such a Code.

Shri Shailesh Haribhakti mentioned that 60% to 70% of the Indians want honesty as priority in public life. He stated that in the present public scenario - governance is very relevant and important. The progress of the nation develops on good public governance. He emphasized that corruption in public life should be eliminated. The mindset of the politicians should be changed. He cited an example that in the power sector 25% is lost because of power theft. For the first time law has been enacted for severe punishment for those who steal power illegally. Similarly every sector should follow suit and strict action should be taken against those indulging in corruption. The bribe givers and takers should be taken to task. Once corruption is minimized, the cost of all will come down which ultimately lead to prosperity of the nation.

CFBP Past Presidents were felicitated at the function. The Chief Guest gave away plaque to Shri F.T. Khorakiwala, Shri J.N. Guzder, Shri Nalin K. Vissanji, Shri A.H. Tobaccowala, Shri Shekhar Bajaj, Shri K.N. Suntook in token appreciation of their contribution to CFBP. The redesigned Newsletter of CFBP was also released by the Chief Guest.

Mr. Batra while speaking complimented the CFBP doing same things like SEBI but in a somewhat different way. He said honesty is the best policy, which was accepted, world over – honesty is the best policy whether it is individual business dealings and or group of business. He stated lack of fair banking practice and cost of backwardness also hampers economy. Today the customer expects value for money. It can be achieved only by practicing high ethical value system. Regulators like SEBI has to function in a non-partisan manner with unimpeachable integrity, honesty and alertness. The role of SEBI is reactive and also proactive and this contributes to healthy practices. He complimented CFBP and wished it all the luck in fulfilling its mission.

Shri Dinesh Parekh, Vice President of the Council, whilst proposing a Vote of Thanks complimented Shri Shailesh Haribhakti and Shri K. Batra for their enlightening speeches.

Thereafter a magic show was conducted by Ms. Mandakini Mehta to entertain the audience and the function concluded with high tea.

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