ESG TOP 200 TOPICS | ESG MARATHON | CS PROFESSIONAL | ESG MARATHON CS PROFESSIONAL

Very good morning, guys. How are all of you doing? I hope everyone is good. Quickly join, fast. We are starting today's excellent session. And tell me, how are all of you preparing for the examination? I hope it is going very well, for sure. Very good. Alright friends, inside today's excellent class, and we have covered many Top 200 topics. Almost in every paper, we have provided you with the Top 200 topics. And I hope that the Top 100 topics that you all have covered, have they been beneficial? What do you say, friends? Let me just share with all the students. Very, very, very, very good morning. ESG, honestly, I wasn't planning for it, but so many messages came from the students, then I thought, let's do it. Since so many messages are coming, what to do? So, just because of your messages, this class, I just planned it, and we will guide you on many things inside it today. And the biggest thing, the biggest problem in ESG for students is writing, writing practice. We will sort out all these things for you today, okay? So, it has been planned very well, the entire class has been planned very well for you today. Yes, yes, Khushi, very good. Nirmal, very good, very good, very good. Okay, fantastic. "Tere Naam" [Music] begins. And tell me, are you feeling excited? Are you scared of the exam? What are you feeling? Yes, Varshika. Okay, I will tell you the entire plan. Okay, feeling scared. See, what happens is, it is very important to understand this that everyone feels scared. There is no one who doesn't feel scared, and feeling scared is very important. I am telling you the truth. If you are not feeling scared, then you have not worked hard. Who feels scared? The one who has worked hard. If you have not done your work, if you have not worked hard properly, then what is there to be scared of? Then the matter is over. Okay, Nirmal, so there is nothing to be scared of. Have confidence. You have to focus on what you have studied. Yes. Alright, very good journey. Good morning. Victory beyond fear. Let's go, Sir. Mewasar. Okay, okay, okay, okay, Sir. JIGL, I have announced it. Mewasar, we have already announced. And there was a session for JIGL, actually, we had taken two sessions. So, there was a huge demand from students for JIGL, so I was compelled to conduct it. So, this Saturday evening at 8:00 PM, we are going to have the JIGL session. JIGL, which is in Executive. Okay? So, JIGL students, this is especially for you. Okay, then, on this note. Yes, Prashant. Now, listen carefully. Inside ESG, the things we are going to tell you, we are going to cover the Top 200 questions. Yes, let's see, Aman. Let's check it out. Write. Very, very important session that we are discussing today. I want to tell you a little bit. Today's session will run until 3:00 PM. Until what time? Until 3:00 PM. Okay, regarding ESG, inside ESG, one is Today's Class. Today's Class. One is this class you have to watch. This that we are going to do today. Okay? You have to watch this class. And second, you have a class named Top 200 Topics. Top 200 Topics. There is already one class for ESG already available. Yes. Available on YouTube already. So, you will have two classes. One is Class Number 1, which we are doing today, and Class Number 2 is already available on YouTube. So, you will watch this class first, which I am doing today, and after that, you will watch Class Number 2, for the June attempt students. Okay? If you do these two classes, then your topics, many will be covered. Okay? Did you understand this, everyone? So, you have to watch these two classes. Today, which we are doing live, and the second one, which has Top 200 Topics, is already available as a video on YouTube. You just have to search on YouTube for the video, you have to write "Top 200 Topics ESG", and you will find the video. And I will also put the link in the description of this video. So, you can watch it. Okay? I hope this is clear to everyone. Now, listen carefully. ESG, this ESG, this paper is of 100 marks. And this 100 marks paper is divided into three parts. Into how many parts? Three. So, write Part A, Part B, and Part C. What was the name of Part A? Governance. And Governance was for 65 marks. Part B's name was Risk Management. This was for 20 marks. And this was Sustainability. And this Sustainability was for 15 marks. So, this is a situation that you should know. Okay? Now, listen carefully. If you want to pass the ESG paper, this is the first tip of today's class. Everyone will listen carefully, please. Thank you, Arpita. Thank you so much. Yes, yes, Nirmal. Thank you so much. Now, what I am telling you, everyone will listen carefully. What I am trying to tell you is going to be very, very important. So, if you all want to pass the ESG paper, one thing is, what is the biggest problem in ESG? The content is 850 pages, and sir, it is content that cannot be memorized. Now, for the June attempt students, that is, today I will make you write all the answers for the questions I will give. Okay? In today's class, fewer questions might be covered. The reason is, because there is a lot of content to write. So, that is what we are going to do today. But I want to tell you something, listen carefully. If you want to pass the ESG paper, there are some common topics that all of you should know, and I have covered all these common topics live on YouTube, and I have also told everyone by sending them on WhatsApp. Although, maybe if you all did not pay attention, then perhaps you did not do it. So, for ESG, you have to cover these topics: LODR, Board of Directors, Accounts and Audit. These four chapters are such that you have to cover them. For what do you have to cover them? For the ESG paper. A student says, "It is not in our syllabus." You will see that 40 marks of the paper will come from this, and whoever does not cover it will be left crying. And tell me, all these four topics, I covered all of them live last month on YouTube. Now, if you haven't done it, I can't do anything about it. And listen carefully, point number five. You should also know the Revised SS. Revised Secretarial Standards. And all these five topics are available on YouTube, which I have covered live. Are you getting this point? I hope all of you have done it. There should be no one who hasn't done it. Okay, sir? Now, so we are starting with this. Today, what we will discuss, we will cover 100% of the paper. That is the first thing. Today, what we are going to do, we will cover 100% syllabus, and we will start writing questions. Okay? Did you understand this? So, Governance, yes, yes, yes, yes, Bhagyashree, for sure, you can definitely watch. No problem. Now, tell me quickly, did you understand the first point? Many students will fail in this paper just because they will not cover these topics, and they will say, "Sir, this Accounts, Audit part is not in our module." So, don't get stuck on the module, sir. Questions are asked from these topics. Board of Directors, LODR, Accounts, Audit, and Revised Secretarial Standards. I hope it is okay with you. So, everyone has to watch these five topics. Okay. Along with that, write. Now, we are going to give you some questions today. Write Question Number One without wasting time. That is going to be very, very important. Okay? Write. First of all, what is the meaning of? We will start from here. What is the name of the paper? ESG. So, the very first question we are taking for all of you, and I feel this is a seven-star question because a question can be asked on the name of the paper, asking what is the meaning of ESG? So, write, as per World Bank, as per World Bank, World Bank according to, as per the World Bank, write please. Yes, yes, yes, yes, yes, yes, Mansi. Yes, Arpita. Yes. Now, listen carefully. ESG is a set of ESG is a set of Environmental, Social, Environmental, Social, and Governance factors. Environmental, Social, and Governance factors considered by the company. Considered by the companies while managing their. World Bank says, while managing their operations. So, the very first question is coming from where? Tell me, the very first question we are taking just from ESG. While carrying out their operations. Are you getting it? And write, and an investor. Wow, what a definition. Making investment. There can be no better definition than this for ESG. Are you getting this point? And before I explain it, write, various issues involved in. Various issues involved in ESG. Write, what are the various issues involved in ESG? So, write first, Environmental Issues. Environment. Now, it takes a lot of time to write answers for each of these. Environmental Issues, write please. Second, write Environmental Issues. Second, write Social Issues. Environmental Issues, Social Issues, and what is the third thing to write? Governance Issues. Governance Issues. Write it completely once. Then we will discuss what ESG is. What is the concept of ESG? And write please. Inside Environment, you will check. Inside Environment, you will see pollution. Write, climate change. Climate Change. Water Management. Write, Waste Management. Water Management. Waste Management. Write, all these things will come under pollution. Greenhouse gases emission. GHGs emission, etc. So, this comes under your. And write, that is, what will come under Social? Write, Health and Safety. Quickly note it down, please. Write, Human Rights. Human Rights. Write, child labor. Many factors. Child labor. Write, that is, Employee Welfare. Employee Welfare. Write, that is, Attrition Rate. Write, Attrition Rate. The meaning of attrition rate is, are employees leaving your company or not? How many employees are leaving? It is called attrition rate. Basically, what is it called? Attrition rate. Etc. So, all these things are covered. Inside, tell me, Social. I will explain everything to you. What is ESG? Now, listen carefully. What will come under Governance Issues? Write. Board Diversity. Board Diversity. Write. Board Independence. Board Independence. Risk Management. Corruption. Board Evaluation. It is going to be a very wonderful class. You cannot even imagine. I am going to cover such content today. You will literally get happy. Wow, everyone. Tell me. First of all, the answer is written. Everyone, quickly tell me. Online people, quickly write the answer, please. Make it fast. So, if a question comes to you on ESG, if anyone asks you a question on ESG after today, then you will write this answer for ESG. That is the first thing. Quickly write this down, please. Health and where will it be applied? HR. Human Resource. HR means what? Human Resource. So, it's just this much. Quickly write it down. Human Resource. Very good. Excellent, fantastic. Now, listen carefully. Tell me, the ESG, the ESG paper is 850 pages, and I always say, I will talk about this for 5 minutes. Otherwise, if it were a regular class, I would talk about it for an hour. But here, I have to explain it to you in 5 minutes. Write, inside ESG, ESG is three words. ESG is three words: Environment, Social, and Governance. Environment. Tell me, don't read now, just understand. Environment, Social, and Governance. If a company is working, Reliance, Tata, Infosys, Wipro, or even Academy 99, if it is working, then tell me, it is working to earn money, but along with earning money, should it also pay attention to Environment, Social, and Governance? To what should it pay attention? To the Environment, to the Social, and to Governance. Now, the question arises, sir, if a company is formed to earn money, then tell me, should it pay attention to the environment? Tell me yes or no. What do you mean by Environment? What is it doing for pollution? What is it doing for climate change? What is climate change? Tell me. Is global warming increasing? Is the heat increasing? Tell me, is climate change also related to the environment or not? What is the company doing for it? For water management, is there a water shortage in the country? Water shortage in the world. What is happening for water management? Waste is a very, very, very big problem for the country. What is the company doing for waste management? Greenhouse emission. When the company's factory runs, what is the company doing to reduce the gases emitted from it? That is, your job is not just to earn money. Your job is also to pay attention to the environment. If money is earned like this, which is at the cost of the environment. Tell me quickly, if a company earns money for the country, billions and trillions of rupees, earns a lot of money, but pollution spreads in the country, and people's kidneys, lungs, their hearts, their eyes come out, they die, then tell me, what is the need for such money? Is such money right or wrong? Wrong. That is why the lawmaker says, you should also focus on what? You should also focus on the environment. Along with the environment, what else should you focus on? On social issues. Is the health of the employees in your factory being taken care of? Or not? Are you paying attention to your employees, human resources, or not? Are you not making children work? Are you looking after employee welfare? Or not? If your employees are leaving, then why are they leaving? Meaning, there is some deficiency in your company. You should also pay attention to social issues. Governance issues. All laws. Write one thing. Are you complying with all the laws or not? Yes. Is risk management happening or not? Is the Board of Directors independent or not? Board diversity means are there male and female directors or not? Is there corruption in the company or not? Board evaluation means, see, are the company's directors performing well or not? Meaning, a company should not just focus on earning money. It should focus on these three things. Tell me, what are those three things? Environment, Social, and Governance. Okay, tell me, is any company paying attention to these three factors? Or not? Who has to see this? The company while doing business. And a wonderful thing is written by the World Bank, which touched my heart. And an investor making the investment. That is, who has to focus on these three factors? All of them, tell me? ESG. Which factors? ESG. Who has to focus on this? The company while doing business, and the investor while making the investment. It is a recommendation for every investor. You invest in Reliance, Tata, Infosys, Wipro, any of them, don't just look at how much money they are making. Also, see how much they are focusing on ESG. And the investor, if you are making an investment by just checking the profit, that is wrong. And is the speed okay today? Is it not too fast? And hey investor, you also have to see whether the company is working on Environment, Social, and Governance issues or not. Invest in only that company. Which company? The one that is working for ESG. And I want to tell you, friends, if a company works on Environment, Social, and Governance issues, will there be welfare for everyone or not? The answer is yes. Those days are gone, friends, 20-25 years ago, only the company that made money was praised. But now days are changing, people's thinking is changing, things are changing. Today, people have started investing not only in companies that are earning profit but also in companies that are doing ESG, that are focusing on ESG. Tell me, is the future ESG? One day will come, an era will come, after 5 years from today. After 5 years, you will see that in the world, every investor will invest only in those companies that are doing ESG. Otherwise, no one will invest in any company. When all the corporates understand that people are investing only in such companies that are doing ESG, then all the companies in the country, in the world, will be forced to do what? ESG. Environment, Social, and Governance issues. Without these issues, no company will be able to survive in the future. Can I say the future is ESG? Tell me quickly. Is the future ESG? Tell me. Yes or no? Yes. The future is what? ESG. No company can survive without making investment on ESG. Remember this. Companies will be forced to work on ESG. And sir, I want to ask you. Wow. And yes. Brother, write a little more from your side if you feel it is less. Okay? Okay. And listen carefully. Now, there is one more question here. Is the future ESG? Yes. And this company works on ESG. Works on these ESG issues. Who will ensure this? The Company Secretary. Can I say? The future is ESG, and the future is the Company Secretary. You will see in 5 to 7 years, that era will come for CS. People will keep watching. No profession will ever have progressed so much, nor will anyone ever be able to. Because the future is all about the Company Secretary. That's my belief. What do you think, ladies and gentlemen? Friends, are you feeling a little motivated or not? When I say this, if it were a regular class, I would explain this to you for an hour. But I think this is enough, man. ESG, the future is. Now, tell me quickly. How many papers do you have in your final? Seven. What is the future? ESG. So, out of all seven papers, which is the most important paper? ESG. But you feel it is boring because you yourself are boring. Your mind has become bored, friends. You have gone crazy. The paper that is your future, you are scared of it. Embrace this paper with open arms. This paper has the potential to change your life, friends. Wow, how filmy I am today. Yes. Yes. Wow. I enjoyed saying it. Let's move on. So, that is something simple over there. Okay, let's move on, friends. I don't know, something happens to me too. What to do now? Yes. I don't eat anything. I am vegetarian. You know, for breakfast. Huh? What do you eat? Students are asking, what do you eat for breakfast? What do you eat today? Delhi's pollution. Anyway, let's move on. Okay, friends, let's move on. We are moving further, and now tell me, according to the World Bank, did you understand the meaning of ESG? Now, okay, I have a question. Now, tell me, for the company.

Should ESG be there or not? It should be. So my question is, please listen carefully. ESG should be there. So, in a company, ESG should be there, meaning work should be done on Environment, Social, Governance. So my question is, who will take care of this? The company's Board of Directors. So, write down the next question. Accountability of the Board of Directors on ESG. Accountability of the Board of Directors. Yes, Nirmal. And one child is saying that one child is saying that I just saw Mahindra has appointed an officer, an ESG officer. Oh brother, yes, to do ESG compliance, Mahindra has appointed one ESG officer. And who are these ESG officers? The company. Does anyone in the country know governance better than us? What is the other name for governance? Company Secretary. Oh, the name of governance should be changed and removed. Its name should be kept. If we are the company, then there is governance. Are you getting this point? Yes. Accountability of the Board. Yes. So what is the responsibility of the Board? So, write down, the Board has three responsibilities. Write down the first responsibility: Integration of ESG into strategy, into policies. Write quickly, friends, there is a lot of work, then you will say that only a few questions were done. Sir sometimes remembers school days. Oh brother, what are you doing here? Go and study. Executive. Okay, write the second one: Identification of Identification of ESG risks. See, you know what? Let me tell you one thing. Everything is about mindset. When you start the ESG paper, you know, some teachers in the first class say, "Oh, this paper is very boring." They have ruined the children. If you say the paper is boring, the child will set it in their mind as boring from the very first day. Look, I will cover so many things in today's class. You will enjoy every question. The only thing is that the teacher's effort increases. For example, the first question had to be made a little sensational, by speaking, speaking, speaking, but interest was created in what ESG is. Now listen carefully. Now, ESG, tell me, what is ESG? You know Environment, Social, Governance. Does the company have to take care of it? Who will take care of the company? The Board of Directors. The Board of Directors will take care of ESG. And then, you know, another concept will come later that whatever you have done for ESG, report it every year. So what will that be called? ESG Reporting. You see, all the chapters will revolve around it. What is ESG? Who will do ESG? What will you do in ESG? You will do ESG reporting. This and that, whatever. So all these things, yes, Mithila Bhaiya. Yes. Come on, write please. Identification of ESG risks and write the third one. Here you go, ESG Reporting. So tell me, what is the lawmaker saying? ESG, you have to read all three in detail. What is the lawmaker saying? Tell me quickly, sir, what is the responsibility of the Board of Directors for ESG? Simran, tell me quickly. There are three responsibilities. Say, the first responsibility. Oh brother, put ESG in your policy. Oh, you are doing business. You make strategies for business, so along with your business strategy, what should you take care of? ESG. If you only think about money, money, money, profit, profit, profit in your business strategy, then ESG will never happen. What is the first foundation of ESG, friends? What is the first thing? What is the first point? Put it in the policy. When you set your objectives, whatever we do, we will do it with ESG. We will do business, we will produce, we will not emit too much carbon dioxide. It should be part of your policy. Say what? ESG. Only then can you do ESG. And who makes the policy? The Board. So who will put it in? The Board. Whose responsibility is this? The Board's. That's what we are studying. And what else? Identification. And what risks can you face while doing ESG? Who will identify them? The Board. And the third, after doing all this drama, what will you do in the end? Reporting. That is ESG. Are you understanding? It's such an easy point. And is ESG reporting done in India? Yes, it is. Regulation 34 of LODR, under which the Annual Report is submitted. In which you prepare a report. BRSR report. That BRSR report is actually what? ESG report. I will also cover that question today. First, tell me quickly. Did you understand this? Now tell me, how many responsibilities does the Board have? Just tell me that. The Board has three responsibilities. Now write responsibility number one: Integration. How will this happen? Integration of ESG into policies. How will this work, friends? This is also a very important thing. So, question number three: How will integration happen, friends? How will integration happen? So, write down, the lawmaker says, how will integration happen? So, first of all, how will the Board of Directors integrate their ESG goals, ESG into their policies? So, write down, first of all, Identification of. Very good, Anjali. Identification of ESG goals. Identification of what? ESG goals. You have to identify what needs to be done in ESG. Now, tell me, until you know what needs to be done, how will you achieve ESG? Tell me, you are doing your course. You don't even know what to study, what are the subjects, so how will you achieve it? It's not possible, right? Second, write down: Alignment. Write down quickly: Alignment of vision and your ESG goals. Align both your vision and your ESG goals. Are you getting? And write down: Alignment. Alignment of ESG goals. Alignment of ESG goals into the strategy. Into the strategy. And will anyone tell me what is the strategy for this paper? What strategy do we follow for this paper? We, especially in this paper, not just this paper, but in every paper, we make full exhaustive notes. And full exhaustive notes does not mean drawing arrows. I dictate what the child has to write in the paper, exactly as it is. So you don't have to put in any effort. Okay, do you understand the third point? Alignment of ESG goals. Align with your strategy. Write down, write down: Establishment of Establishment of ESG oversight mechanism. Write, son, listen to what oversight mechanism means. You have put ESG into your policy. Oversight means to observe. What does it mean? Observe. Whether the policy you made is working correctly or not. This is called, say what? Write down. And write down one last point, please, point number E. And you should make a policy. You should make a policy in the company for what? Write down: Environment Policy. How will we work for the environment? That is Environment Policy. Anti-corruption Policy. Anti-corruption Policy. HR Policy. HR Policy. So the company should make three types of policies. That is one, Environment Policy, Anti-corruption Policy, and HR Policy. So if the Board of Directors does these five things, then we will say that your ESG has been integrated into your policies. And remember. Okay, tell me, what was the Board's responsibility? Tell me quickly. Three. First, put ESG into your policy. Integrate. Integrate. Second, what was it? Identification of what? ESG risks. Tell me quickly, did you understand all this? So, write down, please. Now the second point, I am just taking. Write down, please. Question number four. Write down question number four. Identification of Identification of ESG risks. And opportunities. Write, son, Identification of what? ESG risks and opportunities. Now, tell me, what is the second responsibility of the Board of Directors? What is the first responsibility? Are you understanding? Establish the ESG provisions in your policy. What is the second point? Now check, within the concept of ESG, when you follow ESG, meaning you work for Environment, Social, Governance, what are the risks involved, and what benefits will you get, what are the opportunities? For this, what do you have to do? The Board of Directors should, the Board of Directors should identify. Should I? Today I will share a video with you on Instagram, okay? That video will be in your group. Definitely watch that video. It's a short video, just 30 seconds. Definitely watch that video and then give your comments on it. I saw that video yesterday. I will share it with you. And, you know, my eyes welled up watching the video. Yes. I mean, I got emotional by watching that video. So, that, and you have to comment on that video. So, especially for students, only for students. So I will share it with you after class, at 5 PM. So please do give your comments on it. The Board, the Board should identify all risks and opportunities associated with ESG. Sir, you have incorporated ESG into your strategy, but tell me, check, what are the benefits of doing ESG, what are the disadvantages? Remember, not everything has benefits. Remember, not everything has disadvantages. Write down. And write down: Climate change. Climate change is the most critical. Is the most critical risk all over the world. And tell me, what is climate change? Tell me quickly. Write down, please. Yes. Can anyone tell me? What is the meaning of climate change? Is the ozone layer depleting due to the emission of too much carbon dioxide? And because of that, tell me, is the heat increasing? Are the glaciers melting? Is the whole earth in danger of sinking? That is something. And does climate change cause harm to people? Yes. Now, tell me, a person who makes geysers and the heat is increasing so much. Earlier, it used to be cold for 7 months in Delhi. Now it's cold for 2 months in Delhi. So, whose business was it? Making geysers, making heaters, he was ruined, poor fellow. So, is climate change, due to pollution, climate change the biggest risk? And managing it is a biggest risk. I am telling you. It's not an easy thing to manage. And write down, please. And write down the third point, please. As per the report of. As per the report of World Economic Forum. World Economic. Write, son. As per the report of World Economic Forum, over the next 10 years. Over the next. Sir, in the next 10 years. Over the next 10 years, the biggest risk, the biggest risk will be climate change. I just told you. Diseases. You know, diseases are spreading in different ways. Just yesterday, I was watching, 53 cases of corona have come again in Mumbai. Did you know? Livelihood crisis. Livelihood crisis. Okay? Meaning, the issues you are facing where you live are being created. Write down: Social cohesion. Social cohesion. This means, write down: The strength of relationships is falling. These are some of the biggest issues coming in the next 10 years. The strength of relationships is falling. Social cohesion means the relationship between people is falling. Are you getting this point? So, you know, why are all these things being told? Because what is the second biggest responsibility of the Board of Directors? You have to identify what are the risks associated with ESG. Okay, tell me, what does a person work on? Okay, suppose you have seven papers. If you find out that the most dangerous paper is ESG, then on what will you work the most? Okay, if you find out that the easiest paper is CSR, then on what will you work the least? So, tell me, why is the second task given to the Board of Directors? Please find out the risks and opportunities so that you can work more on the difficult things. That's why it's told that these are the biggest risks that will emerge in the next 10 years for the Board of Directors, which is related to what? Say ESG. Okay? Therefore, write down: It is a duty of the Board of Directors. It is a duty of the Board of Directors to integrate, sorry, to identify all ESG. So, tell me, what are the two responsibilities of the Board of Directors? Did you understand? Can we move forward? Tell me quickly, how many points are done? So, what was the first duty of the Board of Directors? Tell me quickly. Is this clear? What was the second? Risks. Now, what is the third? Now, whatever ESG activities you do, what was the third step? ESG Reporting. Write down, please. ESG Reporting. So, now we will talk about ESG Reporting. Okay? What will we talk about? We are going to talk about ESG Reporting. And will anyone tell me, according to you, what is ESG Reporting? What do you think? What is ESG Reporting? Just a small question. What do you mean by ESG Reporting? Yes. Write it down once. Yes. Arpita is saying that sir, one day before, how do we revise ESG one day before? So, I have told you before, if you want to revise the entire subject one day before, there is only one way. Only one way. Another way has not been born yet. And there is only one way if you want to revise the entire thing, and what is that way, do you know? That way is that you just read the notes that were dictated to you. They are your handwritten notes. Revise only as much as the notes dictated to you. Because the entire module cannot be revised in one day, or even in 8 or 10 hours. So, the notes dictated will help you on that day. So, revise from the notes, son. Notes, notes, notes, that were made for you. ESG Reporting. Write down. Seven-star question. Very, very important. What is ESG Reporting? So, write down: It means, it means reporting of ESG activities done by the company to the legal authorities. Write quickly: To the legal authorities. What is the meaning of this line? Meaning, what is the meaning of this line? That sir, what is ESG Reporting? Okay, reporting ESG is also whose responsibility? Tell me. ESG Reporting. Very good, Aman. Very good, Pranav. Yes. Now, there is another question, that is, ESG Reporting. Yes, so the question is, ESG Reporting, yes, whose responsibility is it? It is the responsibility of the Board of Directors. Please do not make noise. Listen carefully and write down. In India, Regulation 34 of LODR, 2015. So, in India, Regulation 34 of LODR, write down. Yes, this is also very, very important. Yes, it deals with disclosure. It deals with, say, what does it deal with? Disclosure. It deals with disclosure in the Annual Report. And some disclosures have to be given in the Annual Report. Meaning, every listed company, now listen carefully. 30, now Regulation 34, sub-regulation one. And it applies only to whom? For listed entities. So, the lawmaker says, whatever listed entity is there, that listed entity, to the stock exchange. Write quickly: At the time of sending. At the time of sending the notice of AGM to the shareholders. Meaning, when the company is sending the notice of AGM to the shareholders, then you will write. Oh, what happened? So, you will, to the stock exchanges. So, son, you will, to the stock exchanges. Yes, at the time when you inform the shareholders, when you send the notice of AGM, it is sent for 21 days. So, along with the notice of AGM, you will attach an Annual Report, and you will send this Annual Report to the stock exchange. And the Annual Report is sent attached with the notice. And to whom does it go? One to the shareholders, and one to the stock exchange. And when to send it to the stock exchange? At the same time when you send it to the shareholder, send it to the stock exchange at the same time. This is written in 34(1) of LODR. And what do you write in the Annual Report? Write down its contents once. Write down its contents: That is, Audited Financial Statement. Audited Financial Statement. Second, write down: Cash Flow Statement. Third, write down: Consolidated Financial Statement. Consolidated Financial Statement. Write: Board Report. Tell me the section of all Board Reports quickly. That is a Board Report. That is also very, very important. And tell me: MDA. MDA means Management Discussion and Analysis Report. I have already covered this in LODR. Write it down. And Management Discussion and Analysis Report. And write: For top 1000 listed entities. For how many companies? For top 1000 listed entities. Meaning, these points, A, B, C, D, E, are for all listed entities. You have to put this in the Annual Report for all companies. But this clause, the F one, is only for whom? Only for the top 1000 listed entities. So, this is something you need to understand. And write down: Top 1000 listed entities will have to attach one more report in the Annual Report, which will be called the BRSR Report. And its meaning is: Business Responsibility. Business Responsibility and Sustainability Report. What is it called? Business Responsibility and Sustainability Reporting. Write down this thing: Business Responsibility and Sustainability Reporting. BRSR Report. That is Business Responsibility and write down. That is given there. That what we did for our business last year. And what is the meaning of BRSR? That is, what responsibilities did we fulfill for our business last year, and what have we done for sustainable development of the business? So, that is something. Sustainability Reporting. And can we say, can we give a name to the BRSR report? ESG Reporting. What can we say? In this, you will tell what we have done for Environment, Social, Governance, Sustainability. So, that's all. And one thing, write down, please. Did you understand all this? Now, tell me quickly, wait a second. Tell me up to here. What was in this question? Tell me, what is the Board's responsibility? First, integrate ESG into strategy. Second, identify ESG risks. Third, ESG Reporting. What is ESG Reporting? What have you done for ESG? Which regulation applies for ESG Reporting in India? 34(1). Is that? Okay? Any doubt here? Write down carefully. Then its proviso one is also given. Write down Proviso one. Provided that. Provided that assurance of BR and SR. BR and SR core shall be shall be obtained as specified by SEBI. As specified by SEBI. Write down. Yes. Now, what does this mean? We will discuss in a little while. That's it. Write down. You have to write this. Provided that assurance of BR and SR core shall be obtained as specified by SEBI. Now you will say, sir, what is this BR? Okay, what is BRSR? Business Responsibility Sustainability Reporting.

And then what is there now? What is one? What is the BRSR Core topic? BRSR Core. So before understanding BRSR Core, before understanding BRSR Core, write down how many questions are done? Five. Quickly write question six. I want to explain to you now what BRSR Core is. So write down, "What is the difference between BRSR? What is the difference between BRSR and BRSR Core?" Now, what is the difference between these two? What is the difference between BRSR and BRSR Core? So write down. This is mandatory. It is mandatory to tell this thing. For 1000 listed entities. Speak quickly. For whom is it mandatory? But the BRSR Core, write down, SEBI, you know, don't talk, SEBI issued a circular on July 12, 2023, on July 12, 2023, and according to this circular, it made it mandatory for some companies. It said that for the financial year 23 and 24, this will be applicable to the top 150 listed entities in Hindustan. Okay? And then, then when the financial year 24-25 comes, it will be applicable to the top 250. And then if 25 and 26 comes, it will be applicable to the top 500 listed entities. Okay? And for 26-27, it will be applicable to the top 1000. That is BRSR. But we still haven't understood what BRSR Core is. We will discuss it now. Tell me quickly, are the provisions of BRSR understandable? On whom will BRSR apply? Just tell me that. Is it understandable? And write down, "It is a reporting." What is BRSR? "It is a reporting under." This is very important, friends. "It is a reporting under Annual Report." On Business Responsibility and Sustainable Development. Meaning, in the BRSR report, what will you report about? Speak quickly. What is reported in BRSR? That what responsibility you fulfilled for your business and what you did for sustainable development. But do you know what BRSR Core is? But BRSR Core is a subset of BRSR, consisting of a set of nine KPIs. KPI means Key Performance Indicator. I will explain everything now. Not everything is explained yet. Let's finish the writing work first. "It is less stringent." It is less stringent. Okay, beta, write quickly, write quickly. "It is more stringent." It is more stringent. So write down. One is less stringent, one is more stringent. Okay? Did everyone write? Now, see, I haven't explained proviso one yet, nor have I explained the difference to you. But I have definitely made you write the difference. What is this difference? BRSR and what else? I will explain all this. Wait now. But before that, write question seven. Let's maintain a little speed so that I can cover as much as possible for you. Make it fast. Yes, yes, yes. Name previous year. Write it down. Did everyone write? Done. Now, before understanding, write question seven. "What are the SEBI nine KPIs?" Okay, KPI means Key Performance Indicator. Okay, it was written in BRSR Core, "BRSR Core is a subset of BRSR consisting of a set of 9 KPIs." So first you have to understand what the nine KPIs are. Only then will you understand BRSR Core. So first understand the nine KPIs. And SEBI has told this. Write down: Greenhouse Gases Emission. Greenhouse Gases Emission. Do you understand Greenhouse Gases Emission? How much a company emits while producing. Write down: Change in Water Footprint. Change in. I will explain the water footprint to you. Once the writing work is done, this is the most important question for the exam, remember. Environment Footprint. Waste Management. Now, see, the problem is, when you read the ICSI module, you have to link all these things, where is what coming from? Now, you know what they have done? Listen. Now listen to one thing. What has been done here? Integration of ESG into the policies. This was the question, Accountability of the Board. Now, this chapter, Board Accountability, is given in Part A. And ESG Reporting, you know where it is given? In Part C. Are you getting it? But we are explaining the answer to the question by mixing both. Are you getting it? Now, why doesn't the student understand? He reads Part A separately, reads Part C separately. He doesn't know what is linked to what. So this is the biggest difficulty. Now, after understanding everything, if you make notes like this, things will become very easy for you at the time of the exam. And this is just writing. Understanding is yet to come. Write: Waste Management. Employee Well-being. Employee Well-being. Gender Diversity. Gender Diversity. Inclusive Development. Inclusive Development. Fairness with a Customer. Fairness with a Customer. See how many are there. Openness of Business. Write it down, please. Write quickly, please. Yes, where? Beta. A, B, C, D, E, F. E, F. Oh, write quickly. G, H, I. Write it down. Now, listen carefully. SEBI has told nine things. What things? Now I am explaining. The writing work is finished. This is our seventh question here. The writing work is finished. Now listen carefully. What am I saying? First, what is the lawmaker saying? What is the lawmaker saying first? Listen carefully. "What are the SEBI nine KPIs?" What is the full form of KPI? Key Performance Indicator. Now, this is nothing. SEBI has given it a name. SEBI has said that for every company, meaning not for every company, but for companies, it is most important to pay attention to these nine things. This is what they have called KPI. Just understand this much. If a company is working on these nine things, earning money, then pay attention to these nine things. First, is your greenhouse gas emission low or high? Try to reduce it. Change in Water Footprint. What is Water Footprint? It means how much water consumption will be there for production. Now tell me, should the water consumption for production increase or decrease? It should decrease. It is the change in the water footprint. Third is: Environment. When you do any production, doesn't some total environment get polluted? So, environment. Just understand this much. C means Environment Footprint. It means how much environmental damage you did last year while producing. What have you done this year to reduce it? Fourth, what have you done for waste management? What have you done for employee well-being? Gender diversity, meaning are men and women in your company or not, what have you done for that? Inclusive development means well-being for all. Write in Hindi: Have you worked for the well-being of all or not? Are you fair with your customers or not? Openness means, have you given frank disclosures for everything or not? So, every company should work on these nine things. SEBI believes so. And what have these nine things been named? Key Performance Indicators. Now tell me quickly. Now, tell me, what is the difference within BRSR? On whom does BRSR apply? Sorry, come here. What does BRSR say? It says to report. What have you done for your business responsibility? And what have you done for sustainable development? Shall I say? This is to be told generally. This is to be told generally. But tell me, the top companies of the country, 150, 250, 500, or 1000, what else do they have to tell along with BRSR? Speak quickly. BRSR Core. Meaning, BRSR. What does BRSR mean? You have to tell BRSR, but you also have to give disclosures on the nine KPIs told by SEBI, which I just made you write, specifically on that. Disclosures have to be given specifically on that. Now tell me, if disclosures have to be given specifically on that, will you work on it or not? Yes. Your father told you there are seven subjects in CS Professional. You have to tell overall how your studies are going in all seven subjects. What did he say? Tell overall how your studies are going in seven subjects. So how many subjects will you tell about? All seven. But then your father said one more thing, you know what? But specifically, tell what is happening in ESG. Now, what will you tell your father? Two things. One, all seven subjects. Now come to ESG, and you will tell a little more detail about ESG. Understood? That's why we say "It is less stringent." "It is more." Why? Because it is more specific. Shall I say? "It is general." And can we say "It is more specific"? "It is more specific." Now tell me quickly, shall I say that for some companies, disclosures have been made more specific? Okay, tell me one thing. Do these companies have to tell BRSR, or BRSR Core, or both? Both. I hope you are getting this point? And what is this drama called? ESG Reporting. I hope you have understood a little bit, you people? Is that okay? Okay, tell me one thing. What were you reading above? Tell me. Understand the concept again. What are the duties of the board? First, include ESG in the policy. Second, identify ESG risks. Third, ESG reporting. Now tell me, for ESG reporting, what is the law in our country? 34. And in ESG reporting, what is it? Along with the notice, put all these things in the annual report. And one more thing is put in the annual report. What? BRSR report? Now, quickly, repeat it quickly. Who will tell BRSR? Who will tell BRSR Core? Top 1000 companies will tell BRSR. And these companies, shall I say, by 2026-27, these will also become a thousand. So, can we say that who will give disclosures on BRSR Core? These companies. Is that okay? And what needs to be told in BRSR? Overall, what have you done for your responsibility towards ESG? And what needs to be told in BRSR Core? You have to specifically mention the nine KPIs. Don't you think that every kind of thing is included within these nine KPIs? Are you understanding this, you people? So that is something very, very, very interesting point. And that is question number seven. The various BRSR Core. Tell me quickly, quickly. Okay, all the children will write the full form of BRSR. One child is asking question seven, "Sir, tell me point B of question seven." Write. Write: Total amount of water consumed in production. Write: Total amount of water consumed in the production. How much water was used during production? Tell me, should this be less or more? It should be less. So that is something. Tell me one thing, if it is not decreasing, then what are you doing? Then you are doing nothing, man. That is the point actually. Understood, you people? So please write it down. Make it fast. I think it's a very, very important question for the exam. Yes, did you understand this? Okay, tell me, did I leave something out? Now come here. Proviso. Beta, you read it yourself. There is nothing for me to teach here. You will read the proviso yourself. "That assurance of BRSR Core shall be obtained as specified by SEBI." That BRSR Core will have to be told by those companies which will be told by SEBI. And SEBI has specified for whom? 150, 250, 500, 1000. And what will have to be told in BRSR Core? SEBI has also told this. How many? Nine KPIs. Simple. I hope you are getting all these things. Say it, can we move forward, friends? Any doubt, my dear friends? Very good. Okay, and now Business Reporting. Let's make it fast. Write quickly. Tell me, are seven questions clear? Now I ask you a question, online people. See, now you have done these seven questions, you have made notes. If you have done this much, I don't think you will need to do anything more than this. Say, absolutely not. Listen carefully, please. Now, write question eight. Write: "What is ESG Rating?" Don't speak. Otherwise, I will make you sit separately. Keep quiet, please. What is ESG Rating? Now tell me quickly. What is ESG Rating? Man, keep quiet. What is ESG Rating? Okay, tell me, what has happened so far? Have you understood the meaning of ESG? After understanding the meaning of ESG, it was explained how ESG reporting is done. Now we are reading what ESG Rating is. Now, what does ESG Rating mean? There are some authorities. For example, like a credit rating agency. So you can get ESG rating from that credit rating agency, meaning how well we are working on ESG. Okay, tell me one thing, what did I tell you a little while ago? Customers. What will they look at to invest money? So, if I get an ESG rating from a credit rating agency and I get five out of five stars, what will you say? This company is also earning well. It is top in ESG. Let's invest in the company. So that is the concept of ESG Rating. So write quickly. "It is an evaluation of a given company." "It is an evaluation of a given company, fund, or security's performance relating to ESG." How a company is performing for ESG. Ladies and gentlemen, what is that evaluation called? ESG Rating. And write down: "ESG rating platforms give ratings to companies." "ESG rating platforms give ratings to the company on the company." And who can these ESG rating platforms be? Can we say they are credit rating agencies and all, or some other companies? On the basis of ESG performance. On the basis of what? ESG performance. And what will that credit rating agency or ESG rating company do? It will look at your company. It will understand your company. It will look at ESG performance. And if your company is performing well, you will get a good rating. Otherwise, you will get a low rating. Simple matter. Write it down quickly. So that is, write please. Okay, when you get an ESG rating, will there be any benefits of getting an ESG rating? Benefits. Benefits of ESG Rating. So, friends, the big question is, will there be any benefits of ESG Rating? Yes. Big benefits. Will brand image be created? Answer is yes. Tell me, will investors be attracted, beta? Answer is yes. Investors are also going to be attracted. Investors are going to be attracted over there. Yes, sir. There is no doubt about it. Investors will also be attracted. Very good, Nirmal. Investors get attracted. Lenders. To understand this paper, you need maturity in your mind. Lenders. Okay, will the lender's confidence increase? Will you get more loans? You will get it, man. Okay, will your competitiveness increase? Will you get a competitive advantage? Will you get an advantage over others? Answer is yes. Cost reduction. When you do everything well, you will see that in the long term, your cost of production will also decrease. So that is the point actually. Write down. And write one more point. Point for a good ESG rating. A good. See, I have to maintain speed. Otherwise, I won't be able to do what I want to do. A good ESG rating means that the company is managing the company is managing its ESG risks. The company is managing its ESG risks very well. That the company is managing its ESG risks properly. Very good. And write down: "A good ESG rating is an evaluation." Copy this exactly in the paper, friends. No need to do anything. Is an evaluation of organizational performance. Organizational performance against ESG. ESG indicators. Okay, do you understand those ESG indicators? Environment, Social, Governance. Regarding that, it's just that much. Environment, Social, and Governance. Tell me quickly, did you understand question number eight as well? ESG. Now tell me, ESG rating comes for four or five marks. Will you be able to write it? Speak quickly. Copy it all. Write quickly. Now write the next question, please. Question eight. Write question nine. Write: "What is Sustainability?" "What is Sustainability?" What is sustainability? So that is again a very, very, very important question. What is sustainability? So write down. What is the meaning of sustainability? Does anyone have any idea what sustainability is? "It means making the needs of the present without compromising the ability of future generations to meet their own needs." Oh human, oh person, you are on this earth today, you are using all the natural resources of the earth. So don't destroy it, don't ruin it, so that your future children, your generation, cannot use these natural resources. They die of thirst. They die of lack of air. Never do that. So grow today, develop today, so that future generations are not harmed. This is considered. What is this called? Sustainable Development. Meaning, when you leave your room and switch off the light. Meaning, you are sitting at the center now, and before leaving your home, when you turn off the light, this is sustainable development. This means you are not turning off the light because you are ethical. You think you are turning off the light because the light saved today, your future children will be able to use that light. What did I say? Sustainability. Wow. Something extraordinary has come into me today. What am I saying? Dangerous? I like saying this about myself. That is sustainability. Are you understanding? And if you have never done this, Shambhu, you are somewhere else, you have gone to your uncle's house, and you think about turning off the light at your uncle's house, your uncle will pay the bill. Then think, your future children will not be able to see light. Those children will have to live in darkness because you did not use sustainability correctly. Wow, what a thing. They will call it foolish. Write. It's okay. It's okay. Yes, there is a full stop. Meeting. Did you write? Think, understand. Write meeting. Write needs. Write needs. Yes, write. The correct math does not lie. Write. Oh, this sentence is also correct. Write to. Oh, man, these are such foolish children. They get confused in the paper again. Meeting their needs. Sustainable. So, do you understand the meaning of sustainability? Now write what is Sustainable Development. And Nikhil is saying that Flipkart got only one rating. Bye-bye. MSCI. There can be a question on MSCI too. I will make you write that too. It is also given in your module. So we will discuss it. Don't worry. We will discuss that. Don't worry. So we will discuss it. Now write, please. Now, what is the meaning of Sustainable Development? What is the meaning of. Very good, Nikhil. Sustainable Development. Write: "It is a process." "It is a process." "In which the exploitation of resources, directions of investment, and technology development." What is the meaning of Sustainable Development? That the money you are investing, the technology you are developing, and the resources you are exploiting. Exploitation means using natural resources. Are in harmony. Are in harmony. Meaning, it's not that you are growing for the sake of earning money.

For, you are destroying everything. Meaning, you are growing within limited things. This is called, but what is this called? Sustainable development. And if you don't do sustainable development, what will happen? All resources will be finished. Future generations will suffer. So, think about it. Why are we able to live here today? Because our ancestors must have done sustainable development. And why are we not able to live well today? Because the people of the past might not have done sustainable development correctly. Are you getting? Tell me, why is global warming increasing today? Because the previous generation did not do sustainable development properly. If they had, then today this global warming, greenhouse gas emissions, ozone layer would not have been destroyed. So, first, and if we don't do it today. Today the temperature reaches how much? 48 degrees temperature, 50 degrees temperature. If we don't do sustainable development today, in the future generation it will reach 60%. People will burn. That is the concept of sustainable development. Say Shambhu. If you don't turn off the electricity when you go to your uncle's house today, tell me, in how many degrees temperature will your child have to live? 60 degrees. Would you want that? So today, call your family, relatives, everyone. What? Turn off the electricity. Or write. Write the third point. Sustainable development means balancing the needs. Yes, sorry. Balancing. Sustainable development means balancing the needs of economic growth, of economic growth with the environment. Are you getting? Meaning, the economy should also grow, and the environment should also be saved. This is called sustainable development. And write. Principle of Sustainable Development. Principle of Sustainable. Principle of Sustainable Development. Very good. So write. Principle of Sustainable Development. Write the first point. Preserve natural resources. Keep them saved. Tell me, are natural resources limited or unlimited? Limited. Our earth, our environment produces it. And use natural resources. Now tell me, water comes to your house. Your water tanks are full. This doesn't mean you will waste water like water. Are you getting? So learn to preserve water too. Tell me, Shambhu, if you don't save water, will the coming generation be able to bathe with water? No sir. They will have to bathe once in two weeks. Think how difficult it will become. Say. So what will you tell your uncle on the phone? Use water properly. Use natural resources in a prudent manner. I am telling you all these things. But none of us will understand. See point number C. When one state uses natural resources, then such state shall consider. Such state shall consider the impact. Shall consider the impact on another state. Write it down. So that is point number four. What does this mean? Did you understand? Tell me something quickly. What is the meaning of this line? Anybody? What does it mean? If Delhi is using natural resources, then it should also see if things become scarce for other states. So, if you do all these things, then this is called sustainable development. Question 10. Write quickly. What is the difference? A question can come in the exam. What is the difference between corporate sustainability? Corporate sustainability? What is the difference between corporate sustainability? And that is CSR. This question can come in the paper. So write. Corporate sustainability or CSR. Write it down. It means an attempt. Yes. Write one more thing here. Here write. Here, the word "state" means country. When one country is using natural resources, it should also think about other countries. And likewise, if a state, even a state like Delhi, is using natural resources, it should think about other states. And if I go to a slightly wider concept. If one house is using natural resources, it should also think about other houses. If one factory is using natural resources, it should also think about other factories. Don't think that your welfare is everyone's welfare. That's not how it works. Everyone's welfare is your welfare. That is the point. So, you have to study like this, Nirmal. I hope it is okay. It means an attempt. It means an attempt to adopt sustainable practices. To adopt sustainable practices. So, what does corporate sustainability mean? That if a company follows sustainable practices. Will anyone tell? What do you mean by sustainable practices? Speak quickly. What is the meaning of sustainable practice? Do such work that growth also happens and the environment is not polluted. Meaning, sustainable development is being talked about. Write the second one. It is a business approach. It is a business approach. It is a business approach. That creates. That creates long-term shareholder value. And if you do this, what will happen? Say. Will long-term shareholder value be created or not? 100% it will be created, friends. There is no doubt about it. Write please. Third. And for this, there is no legal framework in our country. Directly. I would say, no direct legal framework for us. That in which section it is written to follow sustainability practices. Tell me, following sustainability practices. I saw a video. Apple said. Apple said that we will become carbon zero by some time, say 2027, 30, I don't know the year. Carbon zero means we will not emit carbon dioxide. Now, have you seen Apple? Apple has removed the wrapper that used to come inside the mobile phone, the one that used to be on the phone screen. In the new phone, it has started coming in paper. And the box, which was so thick, has become thin. What is that? Sustainable practices. So companies are adopting it on their own. That is something. And this is a very good thing. And if all companies start doing this, then it is a very good thing. When one person starts a change, the world follows them. When Apple made this box thin, you see, all companies' mobile phone boxes, like Samsung, have become thin. And the interesting thing is? Do you know what used to happen before? When you used to remove that wrapper. Meaning, when you opened the box, there was a plastic wrapper. Did you know that? That plastic wrapper has been removed and now it has started coming in paper. And Apple started this. Then slowly all companies have now put that paper wrapper. Think about it. Millions of phones must be selling daily. Out of millions of phones, every day that plastic film, that wrapper is removed. How much waste is coming out? So tell me, everything is done. That is called sustainable practices. The company is following. So, if one person changes, others also start changing. So, following such practices. But is there any direct legal framework for this? The answer is no. Now, what is CSR? Now CSR. It means pay back to society. It means pay back to the society. What does this mean? Working for society. And what is the benefit of this? Society gets benefits. Listen carefully. There is a topic in your module. Write question 11 here. Before doing that. There is a whole chapter on CSR, and we have already done the top 200 topics on CSR. I want to tell you that all those top 200 topics we did on CSR, all those 200 questions, you have to follow for ESG as well. Remember this. I might have said it there too. You have to follow it for ESG. And those top 200 topics I did were, can we say, they were from Part A. And what was the name of Part A? CSR. It is completely relevant for ESG. Are you getting? And write one more question in this. Question 12. Tell me honestly, did I tell you about the CSR provisions of CPSC? Tell me, did I cover this or not? You will find this in the 200 topics of CSR. This can also come in ESG. I told you there too. I am telling you here too. So, for question 11 and question 12, you will follow the top 200 topics of CSR. Did you understand? Suppose many of your questions related to ESG will be covered there too. Now, we will not have any discussion about CSR. So, can I say that society will get benefits? Yes or no? Yes. And is there a legal framework for this? Yes. Will anyone tell? What is the legal framework? Section 135 of the Companies Act, 2013. So that is the difference. I would say this is a difference. Say for whom? Corporate sustainability and CSR. Now tell me, how many questions are there in total? 12. Shall we move forward if you say so? Write, child. Write question 13. What is sustainability audit? Let's see, child. Now I will tell you, Nirmal. 100%. Nikhil, you never know which topic will come where. You cannot give an excuse. So you have to work on it. So write. Sustainability audit. A question can be formed on this in the exam, what is a sustainability audit? So write. First. It is an assessment. It is an assessment of organizational. It is an assessment of organizational environmental, social, and economic impact. Economy. What has a company achieved through sustainability practices? Did it follow sustainability practices or not? Assessing this is called a sustainability audit. What is a statutory audit? Is there any error in the balance sheet or not? What happens in an SAC audit? Is there compliance or not? What will happen in a sustainability audit? Check this. Say what? What will be checked? Speak quickly. What will be checked in this? Speak quickly. Are you properly following sustainable practices for the environment or not? What is its purpose? Write. Write its purpose. Identify the areas. Identify the areas where the organization. Where the organization can improve. And from this audit, your shortcomings will be known, and you will be able to improve them. That is the purpose. Sustainability audit covers the following. And what will the person who comes to do the sustainability audit check? Meaning, what things will be covered in it? So write what things will be covered. Point one. Yes, Aman. Write point one. What things are checked in this? What has the company done for energy conservation, for energy saving? What has it done for greenhouse gas emissions? For water waste, for water usage? All these things are checked in this. What has been done for waste management? Have you ever been to Piragarhi, Delhi? Have you seen Piragarhi? When you go straight from Piragarhi, you come to Karnal Bypass Road. And from Karnal Bypass Road, if you go straight, after crossing Piragarhi, then Madhuban Chowk will come. From Madhuban Chowk, if you go straight, Karnal Bypass Road will come. And when you turn left at Karnal Bypass, you will see a mountain in Delhi. What will you see? What will you see in Delhi? A mountain. And that mountain is a mountain of garbage. And vultures will be seen circling over it. And it is a mountain of garbage. Meaning, it is very big. And when I was young, I saw it. I said, there are mountains in Delhi too. But then my parents told me that this is not a mountain. What is this? It is garbage. Meaning, all the waste of Delhi is dumped there. Waste management is the biggest issue in the world right now. How to manage waste, how to dispose of it. You people bring five packets of chips, packets of lentils, this packet, that packet home every day. And in the morning, the garbage collector comes and you throw it away. Where does he take it? Where does he take it? Have you ever thought about this? So, waste management is the biggest issue. Waste management is a very big issue. Write, sir. Point D. It assesses. It assesses how the company performs. It how the company performs in three: one social, environmental, economic. In this, these things are seen: what you have done for society, what you have done for the environment, and what you have done to earn profit. So that is something. The sustainability audit. Write. How many steps are there? Question 13. Write question 14. Process of sustainability audit. What is the process of sustainability audit? Write quickly. Point A. First, planning. You have to plan to do a sustainability audit. In this planning, you have to define the scope. What things do you have to check? Define the objective. Why do you have to check those things? And you have to plan. Meaning, if I go to do a sustainable audit, what three things do I have to do first? Say, what are the three things to do first? This is my, this is my. What is the meaning of scope? That within the audit, I will go inside the company. Suppose I am going to audit Reliance's sustainability audit, Anup Jain. Tell me, what should I check first? Speak quickly. First, what will Anup Jain check in Reliance? Speak quickly. So first, what will Anup Jain check in Reliance? Speak quickly. So first, Anup Jain will plan to conduct the audit. And in the plan, I will define the scope. What to check. Objective. Why to check. Third, then I will plan. Write. Then the second task will be done. Data collection. Anybody? What do you mean by data collection? Speak quickly. What is the meaning of data collection? Okay, data. And write. Collect the data relating to. Now you are checking. So here, tell me, if you do a statutory audit, what data will you collect? Balance sheet, financial statement. Yes or no? Yes. So you will check these things. So collect the data. Collect the data. Which one? Environmental data, social data. What did you do for society? What did you do for economic? So you have to check all this data of the company. Collect it, basically. Okay, for collecting data, step number three. Now what will you do? Write. For collecting data, write the third task. Assessment and evaluation. Yes, yes, Nirmal. Assessment and evaluation. Write please. And write. In sustainable audit, assess and evaluate the sustainability performance. That how has the company's performance been regarding sustainability? So you will check this thing, basically. So that is step number three. Step number four. Reporting. And write. Summarize all findings into one report. All findings into one report. That is something. Simple, simple, simple. Write it down, man. Step one. And implement the corrective measures. Meaning, implement the corrective measures. So that is something simple. And finally, continuous monitoring. And now you have to monitor it too. Continuous monitoring. That's all there is to it. Write quickly, friends. I think it's quite easy. So that is something. How many questions are there? Speak quickly. 14. Write the heading. Is it easy? Does it not seem difficult? Yes. So that is something. Question number 14. Question 15. Ladies and gentlemen. Write quickly. And there are some chapters that trouble many students. Like a chapter is Environment, a chapter is Green Initiatives, a chapter is Data Governance. So I have planned for each and every thing. I have planned for every question. And all those questions and chapters, I have covered basically. So all those things will be done for you. I will consider all relevant questions. Keep writing quickly. Write. Question 15. What is integrated reporting? This question is very important. Give it a seven-star rating. What is integrated reporting? Write quickly. Yes. Those online, write and tell me, what is integrated reporting? Jio has already announced. Saturday morning, 9 AM. Write please. Integrated reporting. It is a. Write, child. It is material information. About organization. About organization strategy. About organization strategy, governance, and performance, and prospects, in a way that reflects commercial, commercial, social, and environmental context. Write. It's easy. What is integrated reporting? Okay, you know we do two types of reporting to the authorities. One is financial reporting, and one is non-financial reporting. What does financial reporting mean? That you are talking about your profit and loss. What does non-financial reporting mean? You are talking about what you have done for the environment and society. So you do two types of reporting to the authorities. One is financial reporting. Second is. Again, in financial reporting, what do you tell? About profitability and loss, about the balance sheet. What do you tell about non-profit reporting? What have you done for the environment and society? But combine these two and make one report. That is called what? Integrated reporting. It is a material information about the organization's strategy, governance, and performance. In this, you talk about the company's strategy, governance, and performance, and prospects. Prospects means what the company will do in the future. You talk about it in such a way that the company's commercial (meaning profit and loss), the company's social, and environmental issues are all known. What is this type of reporting called? Integrated reporting, in which both aspects are covered. It covers both. Say what? Financial, non-financial reporting. Board. Write. Integrated reporting provides. Provides clear and concise. Clear and concise representation. Of how the organization demonstrates stewardship. And how it creates value creation. How it creates value creation. Write please. How it creates what? Value creation. I will tell you what this is. Please write it down now. Look, understand carefully. One word is stewardship. These are shareholders. Shareholders are giving their money to whom? To the company. What is the company doing with that money? Business. And tell me, who is managing this money? Who is managing the money that shareholders have invested in the company? Board of Directors. Can I say? The Board of Directors is managing the investors' funds on behalf of the company, on behalf of the shareholders. Are the Board of Directors managing the shareholders' money? Yes or no. So when you manage someone's money, it is called stewardship. What is it called? So tell me, how do you know from integrated reporting how the Board of Directors is managing your money and how they are creating value for the shareholders, how they are creating value for the company? Third, write in this. Benefits. Third, what do you have to write in this? Benefits of integrated reporting. What are the benefits of integrated reporting? So write. First, what are the benefits? Note please. Very good, Nirmal. Write. Encouraging companies. Write. Encouraging companies to think in an integrated way. To think in an integrated way. Write quickly. Okay. Encouraging companies. Tell me, if you do integrated reporting, will you be encouraged for what? To think in an integrated way and things. Okay, one thing. Look, let's understand a little. Should a company only think about the financial performance of the company? But does the company actually think? Say, think about it. Yes, the company only thinks about what? But if you do integrated reporting, will the company be forced to think about? A lot. So if it is in your mind that along with financial performance, non-financial performance also needs to be looked at, then tell me, is this a benefit or not? That is the purpose. That is a benefit of integrated reporting. Write. Clear business strategy. Your business strategy will become clearer with this. Clear business strategy. Write. Okay, can I say? Single report. If there is a single report, then its biggest benefit, I think, is easy to access. Yes. What is the biggest benefit? Say. Easy to access. And write please. And the biggest benefit of this is that financial and non-financial reporting are both done in it. Have I already told you this? It is combined. And write. Identification of

Risk. And both things are being reported together. So the risks and opportunities of both are understood together. Risk and what opportunities. So that is something simple over there. That is given over there. It is simple. That is question number 15. Question number 16. There is a question number 16 which I am making you write now. And it can also come in the paper. Write: Challenges of Integrated Reporting. And what are the challenges of integrated reporting? What are the various challenges? Write quickly. What are the challenges of integrated reporting? Very good Swiksha. Very good. Write, what are the challenges? Why are we unable to do integrated reporting? Write. First of all, it requires high expertise. It requires, tell me, does it require more expertise to do this? And that much expertise is not available yet to prepare. So this is the biggest challenge for me. Yes. It requires high expertise to understand. Now tell me, if a report has multiple information, will it be a little difficult to understand? The answer is yes. It's a very straightforward matter. If I put the entire course by interlinking ESG, CMD, and Drafting in the same book. Will you be able to read it? You are not able to read even one. It's a logical matter. So write. Describing company strategy. Write, child. Describing company strategy is difficult. Meaning, and sir, it becomes difficult to define the company's strategy in an integrated way. And the biggest problem is conciseness. When you write everything together, you won't be able to write concisely to the short. A lot of information will have to be written. And a very big problem is lack of standardization. Meaning, there is no standard format for preparing a report. That is, and the most important is hesitation. Hesitation in disclosing all the information. Hesitation in disclosing all the information. And many people become hesitant to disclose all their information. This is absolutely true. There is no doubt about it. Okay, question number 17, write quickly. This will have to be explained quite a bit. This will have to be explained quite a bit. I will definitely keep this question for the end. If I get time at the end of the class today, I will definitely do it because it needs a lot of explanation. It will take me time, and I don't want to spend so much time at the beginning that my energy runs out later and we can do fewer questions. So let's do more questions first. This question I am making you write is called GRI. Variant seven-star question. Global Reporting Framework. Global Reporting Initiative Framework. GRI. Very, very variant for the exam. But to explain it, I will have to put in a lot of effort. So I am keeping it for the end for now. If I get time, I will do it. Although I had also included this topic in the Vijay Bhava batch. I hope you saw it, and if not, it's okay. We will try to get it done for you. Okay? But not now, because it will require more effort and time, and there isn't much time right now, but it is an important topic for the exam. Very important topic, GRI. What is its name? Okay, let me tell you a little about what it is. Okay, tell me, where did question one start? I want to integrate you. The entire ESG paper is one paper, one concept is running, but we get scared. I will take you 2 minutes. 2 minutes. Look, put everything aside for a moment. Now look at everything. Where did question number one start? Tell me? ESG? Did you understand? Online folks, please focus. Keep listening to me carefully. What did ESG mean? Environment, Social, Governance Framework. Does everyone know this? Now tell me quickly. We understood the meaning of ESG. Then whose responsibility was ESG? Integrate it into your policy. Identify risks and report them. Which regulations were applied for reporting? 34 and BR, and in that, in what do we report ESG? Say it. Now tell me, in what do we report ESG? In the annual report. And which part of the annual report is called ESG reporting? BRSR. And some companies have to specifically mention nine things. That is BRSR. And tell me, no matter how many questions we have done, it's all the same thing. Yes. Okay, after that, you told me BRSR. After that, these nine. Okay, after that, are you doing ESG? So what is your performance? Its ESG rating has been made. After that, tell me, what is the next question? Now tell me, will the person who follows ESG, Environment, Social, Governance, also be working towards sustainability? The person who is doing ESG, the person who is working for Environment, Social, Governance. Tell me. The person who is doing work for what? Environment, Social, Governance. I want to ask you all. Friends, tell me quickly, is he also working for sustainability? Yes. Then what did we talk about? CSR, and tell me, what is the difference between the two? Okay, after that, if you are doing sustainability, then someone will audit it. So that is sustainable audit. All these things, they are all one topic. Okay, tell me quickly. Now what came? Integrated Reporting. What does integrated reporting mean? Combining your financial and non-financial information together. And tell me, financial information is the balance sheet, and non-financial information, then ESG. ESG information is non-financial information, right? Yes, sir. So that is something given over there. Then came the benefits and challenges, etc. Can we say? Now look, the 17th question, question 17, what is it saying? How will you do ESG reporting? This was explained, ESG reporting. So there must be some way to do ESG reporting. There must be some framework. So how will ESG reporting be done through that framework? That framework is international, GRI. Global Reporting Initiative Framework. So can I say? What is this? Tell me quickly. It is a framework through which we do what? Tell me, ESG reporting. So it is a framework, and it is an international framework. What is this, child? It is an international framework. Tell me quickly, can we move forward? Tell me quickly. We will do question 17 later, at the end, we will see at the end because it will require a lot of explanation. Question 18, write quickly, please. Come to question number 18. Yes. Abhinav is saying everything is mixed up. ESG, BRSR, GRI, these are all the same thing. If you understand this, it will seem easy, otherwise everything will seem different. So far, in 17 questions, everything is talking about the same thing. ESG, nothing else is happening. Write, look at the question. Now I am telling you some international frameworks. Write, write. Malaysian Code on Corporate Governance 2021. It is in your module, friends. What is it? Malaysian Code on Corporate Governance. What did I say? Malaysian Code on Corporate Governance. Very, very variant. And write, Malaysian Code on Corporate Governance 2021. Meaning, meaning, there is some law in Malaysia, and you have to tell its provisions. Provisions related to the Board of Directors. It is not asking about India. It is saying, according to a law in Malaysia, according to that law. Okay, do you know what this law is? Understand it. Malaysian Code on Corporate Governance is like LODR of India. You can think of it like that. And according to Malaysia's LODR, what did I say? According to Malaysia's LODR, you have to tell the provisions of appointment of directors. Understood the question? So write quickly. Here it is stated. Write the heading. Appointment of Directors. The lawmaker of Malaysia says that in Malaysia, a person can be an independent director in a company for a maximum of 9 years only. Write quickly. The same provision will be applicable for non-executive directors. Non-executive directors. For whom, tell me? And write, after 9 years, reappointment is possible. What did I say? After nine years. What did I say? After nine years, reappointment is what? Possible. But for that, you will have to satisfy two conditions. How many conditions? You have to satisfy two conditions. And those two conditions are: First, you have to give justification why you are appointing the same person. You have to give justification why you are appointing the same person. Write that, and you have to take shareholder approval. Don't you think that in India, this is not 9 years? In India, how many years is it? It is 10 years. Are you getting this point? So that is something. Appointment of Directors. Appointment of Directors in Malaysia. Question number 18. Question 19, write please. Question number 19. What is Lead Independent Director? What is Lead Independent Director? Write what a Lead Independent Director is. This is a concept recognized internationally. This is a concept. What kind of concept is this? This is a concept recognized internationally. This is a concept recognized internationally. This is a concept that is recognized internationally. There is no such concept in India. I taught you Companies Act, LODR, both. Did you ever read about Lead Independent Director anywhere? Answer is no. Write, companies outside India. Yes, Ankit, it's just one point, child. Okay, rather you can write it as 1, 2, 3, 4, 5. Just write it like this. Appointment of Director. That's something simple. Or you can write it like this: Provisions of Provisions related to Appointment of Directors. Malaysian Corporate Governance Code. It could be a three-mark question paper. Write. Lead companies do what? Companies outside India designate. Designate any independent director as Lead Independent Director. Meaning, they recognize one director. They designate one as Lead Independent Director. What do they designate? As a Lead Independent Director. And write, please. That means, suppose there are three independent directors in the company. So they will choose one person out of those three, saying you are the Lead Independent Director, like this. And write within this. And that Lead Independent Director, LID, Lead. So the Lead Independent, don't write Lead in the paper. What should you write in the paper? Full: Lead Independent Director. Acts as. Acts as an intermediary. Acts as an intermediary between the Board of Directors and the Shareholders. So write, Lead Independent Director acts as an intermediary between the Board of Directors and the Shareholders. And write, that is Lead Independent Director. Check. Can we say there is no concept of this in India? It is internationally recognized. In the international market, can we say that the Malaysian Corporate Governance Code has given more responsibility to the Lead Independent Director? Less responsibility to others? Tell me, have you not read Lead Merchant Banker in India? So at the time of the public issue, 0.3 merchant bankers, one is the Lead Merchant Banker. Lead Merchant Banker is a merchant banker who has more responsibility. The likewise concept is not recognized in India but internationally. That is the point. And write, Lead Independent Director checks whether the Chairperson performs all his duties. Whether the Lead Independent Director is doing all his work properly or not. That is it. Absolutely, absolutely correct, Swiksha. Perfect. Okay? And write, point number E under Lead Independent Director. This question can come in the paper. UK Corporate Governance Code 2016. So write, under UK Corporate Governance Code 2016. Write, the Board of Directors shall appoint. In the UK, it is said, appoint any one independent director as Lead Independent Director. And write, such Lead Independent Director, Lead, acts as an intermediary. Acts as an intermediary for other directors. He will work as an intermediary for other directors. And he acts as an intermediary between the shareholders and the other directors. Other directors, basically. Okay, sir. And write, how many points are there? E, F. These are all international frameworks. Can the question come: What is Lead Independent Director and its international framework? Six marks. Yes. So you will write about Independent Director and then you will tell about the UK. Write A. Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The Board of Directors appoints. And in Italy too, the Board of Directors shall appoint a Lead Independent Director. What will they appoint, tell me quickly? They shall appoint. But Lead Independent Director. Very, very variant. Actually, yes. Yes, the sound is low. Now, what can I do in the middle? The sound should be fine. Look, check once. Sound is coming fine. Online folks, tell me quickly. And write, Italian Corporate Governance Code. And according to the Italian Corporate Governance Code, what is it? So write, the Board of Directors. The

Should it be through NRC or through an external agency? Who will decide this? Speak. Who will decide this? Nomination Remuneration Committee. So that is something simple over there, please write it down. Next, write. Let's move on. Third, oh Shanu, this sound is coming from behind repeatedly. It is disturbing. Are you seeing? Hello, hello, the sound is coming back like this. Look, it's coming now. It's bothering me. Increase the volume of the YouTube sound. Decrease theirs. Here it is. Hello, hello, evaluation of the Board of Directors, evaluation of the Board of Directors, evaluation of the Board of Directors, evaluation of the Board of Directors, evaluation of the Board of Directors. Okay? Alright. Hello, hello, no, no, one second, one second, one second, one second, wait. Hello friends, I am CS Anoop Jain, and today we are going to discuss, enough, enough Shanu, just leave it. Okay, wait a second. Alright, online folks, is the sound coming correctly to you? We have reduced it a bit here. Schedule Four, no, it's coming loudly, isn't it? Tell me. Yes, yes, okay, okay. Yes, okay, let's go. Schedule Four of the Companies Act. Well, it is written in Schedule Four of the Companies Act that all, all independent directors shall, all independent directors shall strive, strive to present. Now, just close it. Oh my, this sound is amazing. Your phone speakers sound good. All independent directors shall, don't talk too much. All independent directors shall present, sorry, all independent directors shall call a meeting, call a meeting of independent directors only, and all independent directors shall strive, strive, meaning try. Strive to be present at such a meeting. That is, all the independent directors have to call one board meeting in a year, and only independent directors will attend that independent director's meeting. Are you getting it? And what will happen in that meeting? Well, is it mandatory for independent directors to attend? No sir, attendance is optional. What is attendance? Optional. But you should try to come, please. And write down what will happen in that meeting. So write down, what will independent directors do when they come to that meeting? Will they dance? No, they review the performance. They review the performance. Ladies and gentlemen, I want to tell you, of non-executive directors. They review the performance of the Chairperson. They review the performance of the executive directors. That's it. And tell me, what is all this going on regarding evaluation? Speak quickly. Yes. Is this India? Shall I say? These are the provisions of Indian law. Regarding evaluation. How many provisions are there? Three. Add one more provision. Rule 8, sub-rule 4 of the Companies Accounts Rules, Companies Accounts Rules, 2014. And this rule 8(4) states that any listed company, and any public company whose paid-up share capital is equal to or more than ₹25 crore, these companies will have to mention their board evaluation in the board report. Where will it have to be mentioned, friends? Board Report. Will anyone tell me? Tell me the section of the Board Report. 134, sub-section 3. Remember? Well, among you, how many of you, tell me quickly, among you, four provisions are done. Now tell me, who among you has done question number 22? Who knows about the Board Report? And who has completed the topic of Board Report? Where did I cover the topic of Board Report? In the chapter of Accounts of the Company. So write, write down the next topic, Board Report, 134, sub-section 3, already done. A question will definitely be asked on its content. It's a seven-star question, and I can even give it nine stars. Very important from my point of view. And write down where you will find it. In the video of Accounts of the Company. So if you go to YouTube, I have covered it live. In the video of Accounts of the Company, you have to search for "Accounts of the Company Anoop Jain", and you will find the video. You have to watch it before going. I had told you before, even before class, it's an important question for the exam. Question 23. Ladies and gentlemen, please write. Wow, yes, yes, Mahi, a child is asking, will it come in December too? Yes, just assume, Mahi, whenever you give the exam, June, December, whatever, this question will definitely come in that exam. And write down, what are the provisions of board evaluation? What are the provisions of board evaluation in Malaysia? This was the only thing missing. Well, what we read above about board evaluation was from India. Now, whose do we have to read? Malaysia. Truly Asia. Write down. Board of Directors should, in Malaysia, the Board of Directors should undertake formal annual evaluation. Write quickly, friends. To determine, to determine the effectiveness, effectiveness of the Board of Directors, effectiveness of the Board of Directors. So you have to do this work, so you will have to do it in Malaysia too. For big companies. Now don't ask what a big company is. Who knows, maybe it's defined in Malaysia. Big companies. For the big companies, at every three years, at every three years, ladies and gentlemen, the Board of Directors appoints, the Board of Directors appoints an external board of directors, appoints an external agency to conduct board evaluation, to conduct board evaluation. So that is it. So for the big companies, at every three years, the Board of Directors appoints, the Board of Directors appoints what? An external agency to conduct board evaluation, to conduct what? Board evaluation. Any doubt? Saturday, 8:00 AM, Astha. Write, please, please write. For big companies, at every three years, the Board of Directors appoints an external agency to conduct the board evaluation. Write, a proper evaluation, a proper evaluation can lead to, sorry, substantially leads to what? Substantial improvement, substantial improvement in board effectiveness. Well, tell me, if you evaluate the Board of Directors, will board effectiveness increase or decrease? Obviously, board effectiveness will increase because you will know which director has shortcomings and which director does not. So that's all there is to it. And write down, very important, board evaluation shall be, evaluation of their. See, this is the most important point. Board evaluation shall be, evaluation of, shall be evaluation of their, evaluation of their character, evaluation of their integrity, evaluation of their character. Write quickly, evaluation of their integrity, evaluation of their commitment. Meaning, what will you check in the Board of Directors? What is their character like? Is their character not weak? Integrity, is their respect in society not decreasing? The commitment they make, do they listen to anyone else after making a commitment? How much are they involved in all these things? Their will, will means, are they willing to work? Meaning, are they willing to work in the company or not? And the most important, ability. So, sir, board evaluation involves evaluating these things. And listen carefully, in India too, these things are evaluated. Okay? Now listen to me carefully. Hello. Now I'm going to tell you something amazing. Well, what I'm telling you is unethical to say, and it's wrong to say. I'm telling you beforehand. Okay? I'm leaving it to you. Now listen carefully. And I'm saying this only for this reason. Do you understand what board evaluation means? Now, whose board evaluation did I explain? Malaysia's. Now, in your module, Malaysia's, Italy's, Vietnam's, Finland's board evaluations are given separately. So if time is short, although I say you should remember everything, but if time is short, if someone hasn't studied, then what do you do? Study Malaysia's. Whatever country is mentioned, just put it there. It's similar. Are you getting it? But this is not for everyone. Who is it for? For those who haven't studied before. So if time is short, you can make a strategy. Already. Well, it's unethical to say this, you shouldn't say it. I'm giving a disclaimer. But if time is short, do this. Well, tell me, you can't remember everything. You won't remember everything anyway. Remember one, copy and paste the same. You'll get something out of four, two, three, half, something. So the rest is up to you. I hope you understood what I said. The children are saying, this is what we understood the most. Please write. Let's move on. Speak. Question 24. Please write. It's 11:30. What? It will come. Karan Arjun will come. Yes. Yes. Okay, write. Certain provisions. Silently, write. Certain provisions of corporate governance in family-owned businesses. In family-owned businesses. Write. Certain provisions of corporate governance in family-owned businesses. Write carefully. What is this? So, certain provisions of corporate governance in family-owned businesses. First, write, write. Independent Director. Independent Director. And the lawmaker says that the independent director, listen carefully, please. Independent Director. Write. The lawmaker says that the independent director. Well, what is a family-owned company? And what are family-owned businesses? What are family-owned businesses? Family companies. Like, can we say that Mukesh Ambani's company is a family-owned business? Can we say Mukesh Ambani? And then within that, that, well, it's also a public company. Meaning, a business that is owned by the family, that the family is running. Understand it like this. Cut the Reliance example here. Understand that a family is running it. That is something. Write, please. So the lawmaker says that is a family-owned business. And write. Now, within family-owned businesses, or within family-owned companies, what are the provisions for good corporate governance? This is a question from your module. So the lawmaker says that if a family-owned business is a listed company, then 1/3 of its directors should be independent directors. And if it is an unlisted public company, an unlisted public company. So in a listed company, 1/3 of the total number of directors should be independent. And if it is a public unlisted company, a public unlisted company, then there should be at least two independent directors. And write here too. At least. Tell me quickly, did you understand this much? So that is something called the independent director. That is something called what? Independent director. Any doubt? Is that? Okay, guys? Can we move forward, guys? Yes. Second, write. And women, actually, there's nothing. They. Well, if a question comes in the exam, listen, please. Listen. Write another question. What are the provisions of corporate governance under the Companies Act? Under the Companies Act, 2013. Meaning, if the question is either, what are the provisions of corporate governance in the Companies Act, 2013? Or the question is, what are the provisions of corporate governance in family-owned businesses? Then the answer is the same. And write. There is a provision for a Woman Director. Have you ever heard the name of a Woman Director? And will anyone tell me in which companies a Woman Director is mandatory? Remember, listed companies. Second, remember, public companies whose paid-up share capital is how much? 50, 500 crore, 100 crore. And whose turnover is how much? 3000 crore. And whose turnover, write, beta, is equal to more than 300 crore. Then there should be one Woman Director. And in the top 1000 listed companies, there should be one independent Woman Director. So these are the good corporate governance provisions, basically. Yes. What about CSR provisions? I will not explain this. Does 135 apply to some companies? Is 135 also a provision of good corporate governance? Yes. I am repeating. If provisions for good corporate governance come, or good provisions for family-owned businesses, then the same provisions will be taken. Yes, CSR 135, already covered. Top 200 topics, you know. Well, tell me, the provisions of the Audit Committee, is it also a good corporate governance provision? Yes. Are the provisions of the Nomination Remuneration Committee also good corporate governance provisions? Yes or no? Yes, sir. Well, tell me quickly, write one more thing, please. And are the provisions of the Stakeholder Relationship Committee also good corporate governance provisions? And is the provision for the Vigil Mechanism also a good corporate governance provision? The answer is yes. Now you will say, sir, tell us what these are. How will we understand this? My dear, write. Now listen carefully. Which question is it? Question 24. Question 25. Write first. Before explaining this, did I cover LODR last month? I didn't cover it, did I? I covered it. I covered LODR. And in that, I wrote the defenses. This is question 25. Most important. Audit Committee, Nomination Remuneration Committee, Stakeholder Relationship Committee, Risk Management Committee. Tell me, did I write the differences for them? Regulations 18, 19, 20, 21. Speak. Remember or not? Yes. And I wrote 10-10 differences in them. And those differences are already done in LODR. So you must watch that LODR class on YouTube. I am repeating again. Without these five topics: Board of Directors, LODR, Accounts, Audit, Secretary Standards, you will not be able to pass the ESG paper or the CMA DD paper. So that is it. This has already been explained and done by us in great detail. So please, you have to do this. This is question number 25. Shall I write it again? Why waste time again and again on the same thing? Now tell me, have we already discussed these four, five, six? Yes. And point seven, Regulation 22 has been covered. And Regulation 22 is covered on what? On the Vigil Mechanism. So we have already discussed the Vigil Mechanism as well. And these four points have not been explained, but shall I say, in the Companies Act, 2013, these are good corporate governance provisions. Is that okay with you? Any doubt in this? Can we move forward? Okay, write. Question number 26. Well, what was question 24 supposed to be? Provisions of good corporate governance under family-owned businesses, or under the Companies Act. Right? Write. Provisions of. Now this question is for you. Let's see who answers. This is not for me, it's for you. Provisions of good corporate governance. Can you make a guess? What question will I ask? In LODR, if someone asks you a question on LODR, friends, what will you tell them? Tell me, which good corporate governance provisions will you tell? You will write Regulation 17, Regulation 17, Composition of the Board of Directors. You will write Regulation 18. You will write Regulation 19. You will write Regulation 20. You will write Regulation 21. You will write Regulation 22. You will write Regulation 23. You will write Regulation 24. You will write Regulation 25. If provisions regarding good corporate governance come in LODR, then you should write these regulations. And please, we have already covered all these regulations. Refer to the chapter of LODR. Again and again, I would say, very, very, very important. Well, let's test your knowledge. Tell me the heading of Regulation 17. Board of Directors. How will directors be? Executive, non-executive, independent. How many? Woman Director, how many? 18. Audit Committee. 19. Nomination Remuneration Committee. 20. Stakeholder Relationship Committee. 21. Risk Management Committee. 22. Vigil Mechanism. 23. RPT. Regulation 24. Material Subsidiary. Remember, material unlisted subsidiary company. And if you remember, I explained the logic of 10%, 20%. 25. Provisions for Independent Directors. In how many companies can a person be an independent director? And the tenure of an independent director. Many things. So all these provisions deal with good corporate governance. Seven-star question, I'm telling you. Sir, out of this, only from question 26, 10 marks will come in the exam, see. It's a seven-star question. Question number 26. No one will skip it. The rest is up to you. Everything has been done. If you still skip it, what can be done? You [music] see, what a thing. Yes. Yes, Regulation 16 just has to read the definition, beta. There's nothing else to do in it. Okay, sir, let's move on. We are moving further. So that is question number 26. Question number 27. Important. Well, write. Challenges. Challenges in family businesses. What challenges arise in family businesses? Meaning, uncle, aunt, father, mother, sister, grandmother, grandfather, meaning brother, everyone is working together. So what are the challenges in family businesses? So write. First difficulty, managing diverse opinions of a family member. Tell me, on a matter, if it's a family business, will all family members have different opinions? The answer is yes. Suppose 20 people live in your family. Ask them. Let's go watch a movie. All 20 will have different opinions. I'll watch this, I'll watch that. That happens. Tell me, isn't this the biggest conflict in a family business? Speak yes or no. The answer is yes. Well, what is the second biggest conflict? Investors do not trust. Family businesses. Why? They know that who knows when there will be a fight in their business within the family. And didn't Mukesh Ambani and Anil Ambani have a fight? Wasn't it the biggest fight in the country? And because of that fight, Reliance was demerged. It was demerged, and one company split into five parts. Some companies went to the younger one, some to the elder one. That is. It happens, sir. Communication gap. This is also a very big problem. Between communication gap between the generations. Yes. Communication gap between the generations. Well, can it happen that the grandfather is also in business? Father is in business, and you are also in business. All three have come. So your opinion is different from grandfather's, father's. So is there a communication gap? The answer is yes. So you are not ready to listen. So that is something, the communication gap. Write. Free decision-making is not there. You have to ask everyone and do everything. Free decision-making cannot happen in the company. So that is something. And write that. And the most important is hiring staff. And when you hire staff, family members. Oh, hire your aunt's daughter there. Your uncle's son is free. Come, put him in the company. Tell me quickly. This aunt's daughter and this cousin and who knows who else. Tell me, the biggest problem, and they don't even work properly. Why? It's my aunt's company. Oh, something will slip out of your mouth. It's my aunt's company. Oh, it's my aunt's company, I won't work. Aunt has made the company for free. Won't take money. Came. Aunt's company. Anyway. So isn't this also a very big problem or not? Aunt's company, and London aunt, and America uncle, whatever. Write, please. Succession planning. Succession planning. Well, do you know what succession planning is? What is succession planning? You know, when Mukesh Ambani retires, meaning, then tell me, who will take over his throne? Son. Now there are two sons, so who is likely? Akash or Anant? Meaning, whatever. Now, whoever takes over. So my question to you is, is this succession planning or not? And write one line in the module. The young generation. The young generation may face. The young generation may face difficulties in proving. And the young generation, after succession planning, has great difficulty in proving themselves. So that is something simple. Like, like, tell me, succession planning. Sonia's son. Tell me the name of Sonia's son. Rahul. So tell me, succession planning is done. But can Sonia's son prove himself? With all due respect to all the people, meaning Sonia, I'm saying Sonia. Sonia Madam's son, that is Rahul Gandhi. Tell me, succession planning. So that is something. So he, meaning, proving becomes difficult. That's Sachin's son couldn't prove himself. Gavaskar's son couldn't prove himself. So can we say, he couldn't prove himself? That is something simple. Write. Question number 28. Important. The concept of IE in Japanese family businesses. This is important. IE in Japanese family businesses. Write.

Please write down what "I" is. Please write quickly. "I" stands for Body Corporate, meaning a company. Body Corporate that holds, I will explain later, write it down. Body Corporate that holds property and capital. That holds property and capital in perpetuity. So, "I" stands for the Body Corporate that holds property and capital in perpetuity. Perpetuity means forever. I will explain.

Let's go. "I" represents a group of people. This will come in points four and five, watch. A group of people who share, who share home and economic and social life. Write down point three. "I" represents Saturday at 8:00 AM. Mohammad Saif Ali Khan. Oh, nothing, man. I have to tell them. The children are coming and asking. I had to take a class for JGL, so I didn't. And you know, now I appear in any video anywhere, and then down below it's J, as in J, J, J, so it's a lot of confusion. Yes. "I" represents a continuing unit of people. A continuing unit of the people. Write down point number four. A continuing unit of the people. Point number four. In Japanese culture, in Japanese culture, "I" is more "I" is more corporation than family. Yes. In Japanese culture, "I" is more corporation than family. In Japanese families, Japan, you know how dangerous, I mean, how good a country it is. In Japanese culture, in Japanese culture, family, sorry, business comes first. Business comes first and the primary objective and the primary objective is to survive. Is to survive and prosper. Please write it down. I will explain now. Write it down. "I" needs to last forever because if it doesn't, the family doesn't matter. Seven. Write it down if you want to write. The head of "I" chooses the successor. Oh, it's very easy. Just listen carefully. All family members. Okay, I'll give you one minute. You read and tell me what this concept means. All family members have been conditioned. Have been conditioned to support. Have been conditioned to support the head. Question 28. Okay, write it down. That is question 20. Now, I have written down eight points. If a question for five marks comes, there is a lot of content to write. Just listen carefully. In Japan, family businesses are called a group of people. Write point two. What does "I" mean? A group of people. That group of people who are doing a business. And here, the group of people, in India, what happens is that family comes first. But there, the Japanese are very professional. They say business comes first. There, they focus more on their business rather than on family members. What is their main focus? To make the business prosper so that all the family members of the company also prosper. Are you getting it? But what is focused on there? What is focused on in India? Focus on family, and business. In India, do you give jobs to relatives? What is happening in Japan? The person who deserves it will be given the job. So, family is secondary and business is primary. That is the concept of "I" in family business. Or can we say, and what is written here is that the head of "I", meaning the group of people, the head, will choose his successor, and everyone will support that head. And that group should remain. Meaning, the business should remain. Because if it doesn't, I told you, I told you that business should be the main focus. If there is no business, there is no family. And here we think, if there is no family, there is nothing. Which one do you think is better? Look, business means business. And business means you have to think about business first, and other things later. And what is written? In Japan, in Japanese culture, business comes first and the primary objective is to survive. I have told you this too. Okay, Japanese culture, "I" is more cooperation than family. And here, here it is said that in business, people have to cooperate with each other within the business. "I" represents a continuing unit of people. Can we say a continuing unit of the people who are doing? Say it. Doing business. And what does "I" mean? A group of people who are doing business, basically. And who share home economy, meaning a group of people who are sharing their home and their money so that they can do business. So their main focus is not on the people. Their main focus is on the business. Because if the business grows, everyone will grow. That's all. Yes. Not required. "I" represents. "I" represents a continuing unit of people. Business. Five people working together to do business. It's a group of five people. They are doing business. A continuing unit of the people. Oh, five? What are you talking about? A partnership firm. A partnership firm where five people are working together. Tell me, who are these five people? A group of people who are running a unit. Are you getting? A continuing unit of people. Meaning, write it down. Meaning, the group of people, basically, who are doing a business. Simple. I hope you are getting this point. It's understandable. It's a concept from Japan. In Japan, they are more focused on business rather than anything else. Sir, relatives, other groups of people can also be included. Basically, but we are mostly talking about family business here. But now, look what happens. Now understand this. We are not in Japan. Try to understand. To understand anything, you have to understand that society. If you don't live in that society, how will you understand that society? Try to understand. So, first you have to understand Japanese society. How do Japanese people work? What is the way Japanese people work? Only then will you be able to understand that thing. Are you getting it? Now, look, like India. We are all here in India. Now, look, I have given you so many examples from India that here the main focus is on our own well-being, everyone's well-being. The world can go to hell. Yes. But you know that, as I told you in India, we even give jobs to our relatives. Now, how do I know if they do that in Japan or not? So, you have to understand the society first. Did you understand? Okay, please write. So, that is the question which is given over there. We are moving fast. Question 29. Write down question 29. You have to tell, for the ESG paper, which companies are such that a secret audit is mandatory for them? Tell me quickly. Which section will apply? 204. And will anyone else tell? Which companies are they? That is, along with that, a rule will also apply. Do you know which rule will apply? Companies Appointment and Remuneration of Managerial Personnel Rules, 2014. Look, let me tell you once more. For those whose exams are in June, listen carefully. It takes a lot of time to explain this. Many things cannot be told in a short span of time. So, some things have been told, some things have been cut. But for now, understand this much: in Japan, family businesses focus more on business rather than family, and their main purpose is to prosper the business so that everyone prospers. That's it. Understand this and write these eight points, and you will get marks. Finished. Okay, who has to get a secret audit done? Tell me quickly. Listed companies. Tell me the second one. Public companies. Tell me the third one, child. Another public company. Okay, which listed public company? Whose paid-up share capital is equal to or more than 50 crores. Whose turnover is? Tell me quickly, please. Whose turnover is? Equal to or more than 250 crores. And any company, any company whose borrowing is? This can also be a question in CMIDD. Whose borrowing is? Equal to or more than 100 crores. And tell me one more. According to Regulation 24A of LODR, if any listed company has, and that listed company has, tell me. A material unlisted subsidiary company. So, why this material unlisted subsidiary company? A material unlisted subsidiary company will also have to get a secret audit done. Are you getting this point? That is something simple. Are you getting this? So, these are some companies for which a secret audit is, tell me. Mandatory. Make it fast. Write down question 30. What is the evolving role of CS? Evolving role of CS in the 21st century. In the first century, according to Chartered Secretaries, Southern Africa. Southern Africa. And just like ICSI in India, there is an institute in Africa, that is Chartered Secretary Southern Africa. So, you can also say that there is an institute that is telling what the evolving role of the company secretary will be. It said that in the future, AI will come. What will come? AI. Tell me the full form of AI. Artificial Intelligence. And Artificial Intelligence will come. And Artificial Intelligence, tell me, will it increase or decrease our role, the role of CS? Tell me quickly. Increase or decrease? What is your opinion? It will assist. So, write down. They said AI will abolish company secretary. Wait, repetitive. Sorry. Repetitive tasks of company secretary. This will not kill CS. It's the repetitive task of CS, like making minutes. We will say, "Hey, make the minutes." It will make them. Like this. Simple. AI will reduce manual work. And our manual work will decrease. Manual work will decrease. Write down the third one. AI is an opportunity for the company secretary, not a threat. So, you don't need to be afraid. So, that is the point, actually. So, there is absolutely no need to be afraid. And write down, please. And write down the following duties of the company secretary. Following duties of the company secretary, subject to automation. Subject to automation. What does this mean? Okay, I had already told you at the beginning that along with this class, you have to watch one more class. Which one? The one for the top 200 topics. We will share its link in this. Okay? And I will share both together. So, okay, what does this line mean? Following duties of the company secretary, subject to automation. What is the meaning of this line? Following duties of the company secretary, subject to automation. Meaning, the company secretary who is working below will have automation in it. Write down. Filing documents. Meaning, when you file documents, AI will help you. Things will be automated. Annual filing. Annual filing will also be automated in the future. This is not what ICAI is saying. This is some institute from South Africa. Minutes making. And minutes making will also be automated. So, will it help us or not, with AI? So, yes, it will help us. Drafting of notices. We will draft notices easily. So, these will be benefits to us. And it's not that the company secretary, that is, will be replaced. It's absolutely not like that. And there is one more thing in this. What is AI? It is a debatable issue. Look, what do online people say? Yes. A question for the online people. Will AI interpret the bare act? Online people will answer. Will AI, child, be able to interpret the bare act? Yes. What is your opinion? Whether they will be able to interpret the bare act. That is my question. Yes. How many are saying? Yes. Online people are confused, poor things. What to do with confusion? Yes. Will they be able to interpret the bare act? Yes. Dinesh is saying no, sir. Amar is saying no, sir. How many face-to-face people are saying yes, sir? It can interpret. Well, I don't think that they will be able to. That is, they will be able to analyze. Because what is AI doing? AI is using the available data to tell some things. But if that thing is not available on the net, which is only in my mind, then sir, I can think about it. I can think about the issues. So, I don't think it will be able to. Yes. And Swechha is saying yes, explain through case studies. According to our class, okay. I hope you understand this. So, this might be a three-mark question. There isn't much to write in it. Three marks in the paper. Okay, write down question number 31. Important question. What is a board charter? This has come in the question paper. What is a board charter? Brother, what is a board charter? Write down quickly. It is a tool. It is a tool to assist. It is a tool to assist directors. In fulfilling. In fulfilling their duties. It is a document through which it helps the board of directors. A board charter is a document that helps the board of directors fulfill their duties. Great. Okay. So, write down. It sets out the role and responsibility of the board member. Role and responsibility. Write down quickly. Role and responsibility of the board member. Role and responsibility of the board members. So, that is also very, very, very important. It sets out the role and responsibility of the board member. And write down the content of the board charter. And after writing this content, you will automatically understand what is written in the board charter. So, first, write down the role of the board. So, there is nothing in the charter. The company creates a document in which it writes the roles of the board of directors. It writes the role of the senior management. And tell me, who will all these things help? The board of directors, so that they can perform their duties properly. Role of the CEO. Meaning, everyone's roles are written, and nothing else. Role of the CFO. CS is not mentioned. Role of CS. Tell me, whose roles are all these? Tell me quickly. This is the code of conduct. How will the company's people, company members, senior management work? What will be their code of conduct? Write down. Protocol for the media. Tell me the meaning of this. How to talk to the media. Protocol for the media. Okay, hospitality and gifts. What does this mean? Hospitality and gifts. Can you receive gifts from someone or not? I have a student, Arpit. He went to audit a company, a group company of Adani Group, and it was Diwali time. So, he went there, and for their company secretary, he took a leather bag worth 5000 as a gift because he was doing good work. He told me that their company secretary refused, saying, "We cannot accept gifts. We have our board charter." So, he said, "This is just for fun, sir. It's not like a gift." Whatever it is, we cannot accept. So, big companies have board charters and protocols. What can be done, what cannot be done. And if someone, maybe another company without a board charter, would say, "Give me one now, and when you come next time, bring one for my elder brother too." So, many people also say this. Yes. Remuneration of NED (Non-Executive Director). Write down the remuneration of the non-executive director. Reimbursement of expenses. If a board director incurs any expense from his own pocket, how will he get reimbursement? Etc., etc., etc. So, that is something simple over there. And what is this document called, friends? Tell me quickly. Board Charter. So, that is called the board charter. Please write it down. And if you want to write one more, then write it. Board evaluation. How will the board of directors be evaluated? Many things. Write down quickly. That is board evaluation. Write down quickly. Make it fast. Question 32. A small question might come, a two-mark question in the paper. Board briefing papers. What are important board briefing papers? Write down. What are board briefing papers? So, write down point one. These are the documents. These are the documents distributed. Look, child, in ESG, it takes a lot of time to write down each question because it's in plain language. Now, what to do? These are the documents distributed to all the directors. To all the directors along with. Along with the notice of the board meeting. Along with the notice of the board meeting. So, write down. These are the documents distributed to all the directors along with the notice of the board meeting. Board briefing papers. Board briefing papers should be. Write down. Short. Write down. Short. Timely. And write down. Focused. So, there are three things in the board briefing paper. First, its meaning is short, meaning to the point. To the point. Send at least. Send at least. Write down, please. Seven days before. Send at least seven days before the board meeting. Write down. And should present. Should present the issue for discussion. Take a quick look and write it down. What are broad briefing papers? When the notice of the board meeting is sent to the board of directors. Whose notice is sent? When the notice of the board meeting is sent to the board of directors, remember, along with the notice of the board meeting, what did I say? Along with the notice of the board meeting. So, whenever the board of directors receives, tell me, the notice. So, along with the notice of the board meeting, the agenda also goes, and along with that, you have to send some documents, that is, a board briefing paper. Now, a matter is going to be discussed in the board meeting. You have to brief on that matter that is going to be discussed: why it is being done, for what purpose, when it is being done, who proposed it. That is called board. Listen, this is important for you. Suppose a company secretary has to be appointed. Who appoints the company secretary? The board by passing a BR. So, tell me, when the BR is passed, you will send the notice of the board meeting, and on that, you will write the agenda: we want to appoint a CS. So, tell me, why do you want to appoint this CS? You will brief some points for discussion on that. Why do you want to appoint? What is the point? And you will also tell in that which matters are to be discussed in the board meeting so that the company's directors come to the board meeting well-prepared. You can ask anyone. Tell me, if I ask you, if I tell you right now that the water is decreasing in Laxmi Nagar. Let's debate this. Can you debate? No. Sorry. Can you discuss? No. You won't be able to discuss. But if I say, come after seven days and be prepared to discuss this: the water level in Laxmi Nagar is decreasing, so we have to discuss it. Then you will come prepared. So, this is the purpose. You will send the notice, so why do you want to discuss the agenda? Why do you want to discuss the matter? You will have to, why are you going to discuss that matter, friends? So, sir, you will have to tell that. And that is something important, actually. So, these are the documents distributed to all the directors along with the notice of the board meeting, and they should be short, timely. Good, timely means.

The Board of Directors should be sent when the board meeting notice is sent, along with it. And within that, it should present the issue for discussion. As I just told you, it will have to be mentioned which matter you want to discuss. So that is Question Number 32. Question Number 33, very, very, very important. Please write. It is a very important question, I feel there is a very high chance of it coming. Write: What is the difference between Data Governance and Data Management? What is the difference between Data Governance and Data Management? A hugely important question for the exam. Yes, Nikhil, please write. Data Governance, it is a process of ensuring. One second, man, you talk so much, man. Oh, are you talking about a break? How many hours have passed? Only three hours have passed. It's 12:30, 12 o'clock. Just be quiet for half an hour. Okay? Write. It is a process. It is a process of ensuring that business rules for the data are established and followed. Write quickly, important for the exam. It is making, it is making sure that all the data, that all the data is captured. Honestly, when we start this chapter, data, I can talk for an hour about what data is. I'm not talking now, but you're saying, when will you talk? No, I won't talk for the whole hour, but for now, you write. I can talk for an hour, an hour and a half, just on the word data. I will definitely talk for 2 minutes. Okay? So listen quickly in 2 minutes. Write first. Okay? Good. It is making sure that all the data is captured, used, managed, and disposed of properly. Point number two: It is a process that ensures the quality of data. It means data can be accessed by. It means data can be accessed by everyone. Third: It provides a framework. It provides a framework for managing the data. It actually manages the data. Data, data, data, I don't know. Write quickly, brother. Write: It is strategic. It is operational. Is it strategic or operational? It focuses on policy. No noise. It focuses on policy. It focuses on execution and management. Now listen, there are five differences just on Data Governance. If a question comes on Data Governance alone, write it. If a question comes on Data Management alone, write it. If a difference between both comes, write it. Tell me quickly, is this Question 33? Shall I tell you quickly? Listen carefully. I want to tell you in two-three minutes what I wanted to talk about for an hour and a half. We won't spend an hour and a half here. Okay? Whenever the chapter on Data Governance starts, friends, we remember a saying by Mukesh Ambani. Mukesh Ambani once said, "Data is the new fuel in the economy." Meaning, whatever business will run in the future will run only because of data. What do you mean by data? If a company sells consumer durables, if a company sells Maggi, if it sells TVs, if it sells fans, tell me, who does it sell these products to? To the consumer. So they need the data of those consumers who want to buy those things. If you want to buy a laptop, and I am a laptop manufacturing company, and I get your data that you want to buy a laptop, will I be able to sell you that laptop easily? Meaning, the future is all about data. A business can only move forward if it has, say, data. Tell me, what about Facebook, what about Instagram, friends? Can anyone tell me? On what basis have these become such huge businesses? Data. Can anyone tell me how Facebook makes money? By selling data. It doesn't sell data. Have millions of people come onto Facebook? And what does it do with those millions of people? It codes advertisements. It shows advertisements, from which it earns money. Are you getting this point? And do you know how advertisements are shown? Try to understand. Go to Amazon and do this practically. You go to Amazon. You look at any mobile phone on Amazon, Apple, iPhone, or whatever product you touch, and see its pricing on Amazon. And then come to Facebook, come to Instagram. You will start seeing advertisements for the same phone. This is not happening for free. Now Amazon is paying money to Facebook to show these ads. And see, you wanted to buy what? Say, an Apple phone. And you are repeatedly shown that ad. So you will be induced to buy that product, or you will buy that product. In this way, sales will increase. That is all about data. Do you understand? So data is, tell me, what do coaching institutes do? They also know the data of students. Data is bought. A student's phone number for ₹10. So coaching institutes buy that data. Some people are sellers, and they call students, "Take the class, take the class, take the class." "Take a good class," and they keep sending them, sending them, sending them, sending them. They send a demo, sometimes an offer. They keep inducing them. Tell me, what is that? They are using the data. Today, sir, whoever has data, whoever has the right data, if they use it correctly, I am telling you, business can increase manifold, very much. I will only say this much on this, not more. Did you understand data? Now listen carefully. Having data is very important. But if you have data, but if you cannot manage that data correctly, cannot use it, then data is useless. Now, if I get data of 1 lakh students in India, suppose. And if I don't use it, then for me, data is useless. So, to use data correctly, I have to do two things. One, I have to do what? Data Governance. And one thing I have to do is what? Data Management. So, what is the first thing to do? Data Governance. And what is the second thing to do? Data Management. What does Data Governance mean? You have to make a strategy. You have to make a policy on how to use data. You have to make a legal framework. You have to make a framework on how to use data. That is something. Tell me. Are you understanding this? I am going super fast, but now it has to be done like this. Tell me, does Facebook have some policy? Does Facebook have some strategy on how we will use data? Tell me, on what basis is Facebook earning money? On the basis of data. So, will it not have a policy? Yes, it has a policy. You also know its policy. Tell me, what is its policy? When you create any account on Facebook, isn't there a policy written below? "Your data will not be shared with anyone." "Your data will remain only with us." Tell me quickly, Facebook is not selling your data, but by using your data, it is showing you advertisements. So tell me, to use data, will you have to make some policy or not? You will have to make one. When it comes to policy, tell me, is it a part of strategy or not? Yes or no? The answer is yes. And to make a framework on how to use data? What will this be called? Say. Is that okay? So, brother, this is called Data Governance. Now tell me quickly, what is Data Management? So, what does Governance mean? Making policy, making strategy, making a framework on how to use data. Will anyone tell me what Management is? Capturing data at the right time, using it, and then disposing of it. Remember, after using data, if it is useful to you or not, it should be disposed of. What is this called? Say, Data Management. Are you getting it? Shall I say? What is done first? Data, meaning, make a legal framework, and then how to use it, how to capture it, how to dispose of it. What is this called? Data Management. Okay, tell me, my company, and suppose in my company, I have seated 10 telecallers to sell classes by calling students. So, should I ensure that data is available to every telecaller or not? Yes. So, sir, what does Data Management mean? That it should be accessible by everyone within the organization. Are you getting it? And what does Data Management mean? Managing data. I have got the data, how do we use it? How to use that? Are you getting this point? And let me tell you, we are very, you know, this data that we get, to be very frank, I'll tell you, it's illegal to talk about some things. See, everything is illegal in our country. You know, there is nothing that is not illegal in our country. But you know, what you are studying here, teaching here is illegal. Do you know why? Because there is no fire NOC here. If any MCD person sees this, they will seal it and leave. This is illegal. The Supreme Court has said that you cannot teach children in any place where there is no fire, no water. We don't have any NOC. The whole of Delhi has only two places like this. The whole of Delhi has fire NOC nowhere. This whole Laxmi Nagar is illegal. So don't even talk about illegal things. Okay, Simran? Don't panic now. If there's a fire, we'll throw you out from here. Okay, listen, what was I saying? I forgot, man. This, sir, you are telling. He skipped it by talking so much. Sir, you wanted to tell here. Yes. Now, we get data, meaning, suppose someone sold us data, and we got numbers of 50 students, but we can't manage it, can't use it. We hardly call 50-60 people, and after calling 50-60 people, it's over. To be very frank, we called 50-60 people. Now, what actually happens, but you know, in many places, they have seated 10 telecallers, given 500 numbers, "Make calls," and many people even do this, they finish 500 calls in maybe 15 days. Meaning, they work on such a large scale. What happens? I had a student, a student came to me in Executive, and he told me that he took ET classes from somewhere. I can't name anyone. He said, "Sir, what a dangerous ET class." I said, "What?" He said, "Sir, after taking the class, sorry, I didn't take the class, sir. It's a free class." He said, "Sir, it's a free class, the one available for free on YouTube." He said, "Even after that, we get regular messages. This happened, this happened, this test happened." Such regular messages. He said, "Paid ones don't do this, but the free ET ones are doing it." I said, "That's dangerous." I said, "How did your data go?" He said, "Sir, they took data from us. Data capturing. And now how are they using it?" He said, "Sir, personal videos come in broadcast." Personal videos. Look at this. Look at this. And then, you know, three days before ET, remember this. On the day of the exam, remember this. Don't do this, don't do that. What is that? They are using the data. Basically, there are many things. That is something. And that too, for free. Because in Executive, you have to cut, so it's a plan. As they say, before slaughtering a goat, it is fed and watered. So, it is being fed and watered. Anyway, I'm sorry, I'm just cutting. Let's move on. There was a case in one branch regarding this. Yes. Okay. Oh ho, let's move on. I hope you understood this small point. Question 34. Ladies and gentlemen, please write. How many stories! Write: What is, what is Resource Efficiency? What is the question, brother? What is Resource Efficiency? Write. This is a topic from Green Initiatives. It's a topic from there. Did you write Green Initiatives? I'll give a break at 12:30. 15 minutes left. It means using Earth's limited resources in a substantial manner while minimizing impacts. While minimizing impacts on the environment. Sir, Resource Efficiency means using resources in such a way, doing full utilization of resources, so that what happens, and using resources in such a way that the impact on the environment is minimal. It allows us to create more with less. It stands, it stands for the relationship. It stands for the relationship between natural raw material and technical, economic material, and the benefits gained from their use. Okay? Write fourth. Currently, we consume more resources, more resources than Earth can consume. Oh, write please. What is Resource Efficiency? Whatever, whatever resources you are using, do optimal utilization of resources. Suppose you are using a natural resource, and suppose I give a small example. You used 1 liter of water to make one unit. But you didn't use the full 1 liter, you wasted a little water. So, sir, don't do that, because if you do that, it will impact the environment. So, you mean, Resource Efficiency means fully utilizing resources. Fully utilize them. That is the point. And it stands for the relationship between the natural raw material and the, meaning, whatever natural resources are there, and your technology with natural resources, you blend them in such a way that we get maximum utilization and gain from it. And today, Resource Efficiency is not happening. Why? Will anyone tell me why Resource Efficiency is not happening today? Because we are using more resources than the Earth is producing. We are using more resources. Tell me, when do you need efficiency? When do you need to be efficient? Meaning, when do you need to use things efficiently? When there is a shortage of it. If there is no water shortage in your house, you will use it freely. The day you realize there will be no water for two days, you will use every drop carefully. We do this in our homes. That is water efficiency. We do that. But we should do Resource Efficiency. Why? Otherwise, one day resources will be finished. And if we don't use 100%, then there will be a lot of loss. So, something like this is being tried to be said here. Question 35. Yes. Currently, we consume more resources than Earth can. Wow, Shambhavi, wow, how smart you are! Thank you. Energy Intensity. Just one child said this. Priyanka was sitting here. She must have written "consume" itself. Tell me, such a foolish child. But a smart girl. The girl said, "No sir, 'consume' won't come. What will come? 'Produce'." Just leave it. Energy. Okay, Ruchika, cough first. Do it comfortably. Do it like this on the tree. It's done. Okay. Write Energy Intensity. It is the amount of energy required. It is the amount of energy required to produce one unit of GDP. Yes, Nirmal, you said it absolutely correctly. And Surbhi is saying that Earth doesn't consume. Absolutely, you are fantastic, Surbhi. It is the amount of energy required to produce one unit of GDP. And the intensity of energy is increasing. Now, will anyone explain what this means? Sir, one meaning, suppose to produce one unit, just understand this much. Oh ho, one second, I'll have to check, friends. Did you understand the meaning? Just understand this much. To produce one unit, yes, how much energy, meaning electricity, is being used? What is this called? Say, Energy Intensity. And this energy intensity is increasing or decreasing? Increasing. Meaning, meaning, you need more energy to produce one unit. And write a small point. It is a measure. It is a measure of energy efficiency. From this, we get to know, what? How efficiently we are able to use energy. It is a measure of what? Energy efficiency. That's a good thing. Please write. Reducing energy, reducing energy intensity can lead to energy savings. And if energy intensity is decreasing, then what will happen? Say, energy will be saved. And let me tell you one more thing. Lower energy intensity. Lower energy intensity reduces greenhouse gas emissions. This will also reduce greenhouse gas emissions. So that is something important. And reducing energy intensity, reducing energy intensity, write. Supports sustainable development. Supports sustainable development. Supports sustainable development. Please write. Ways to, ways to reduce. Please recommend these to me. Energy intensity, meaning, what should be done to reduce energy intensity? Tell me quickly, what should be done? Give some methods, please, so that energy intensity decreases. What should I do for this? What should people do? Say, upgrade. You people are not able to tell. It's a very easy point. Yes, sir, write, brother. Upgrade to. Try to write what? Energy efficient technology. Aren't we installing one-star, three-star, five-star ACs in our homes nowadays? Why? So that energy intensity decreases. That is the point. Second, write: Shift to cleaner energy. Will anyone tell me what this means? What energy should you start using? Solar energy. And nowadays, many people are doing what? Say. Do you know we have so much tremendous energy? That is solar energy. But we don't have that technology. Sunlight comes to us. We can generate so much electricity from the sun that, meaning, energy will be free for everyone. For many, many years. I'm saying, for millions of years, there is so much energy. But we don't have the technology. Now, you know, those small solar panels come, but it is very expensive, and even after that, we can't convert much energy. If there was some technology, like, you know, Dish TV, Dish TV, you put it on the roof, and suddenly the channel comes. In the same way, if a Dish TV like technology could be installed on the roof, and with the light of the sun, 25 ACs are running in your house for free. But that technology is not there yet. So, to consume just a little, you have to spread panels all over the roof, install 50 panels, and then you find out that only two units are being generated daily. So, we don't have the technology. The day this technology is developed, the electricity of the whole world, the whole Earth, will be free. For many billions of years, the sun has so much energy, we can't even imagine. But we don't have the technology, actually. And tell me, optimize, optimize industrial processes. And the factories, their processes. Tell me, what should be done for that? What should be done for them? That the processes happening in the industry, factories are running, can you also, tell me, transform their business processes efficiently?

Yes, so that less energy is used in factories and industries, and Elon Musk, don't even talk about him. He is a different kind of person, Elon Musk, that is something different, people. Elon Musk is planning to provide 90% of electricity through solar energy by 2030. If this happens, it will be a miracle. There will be no greater innovation than this. If this happens, but let's see point four, promote sustainable behavior. And what does promoting sustainable behavior mean? You know, it means spreading awareness among people. Awareness of what needs to be spread? That sustainable energy needs to be used. What will be the benefit of using sustainable energy? What will happen from this? When this awareness spreads among people, what will people do? They will use less energy and use sustainable energy, and they will try to reduce energy intensity. That's all there is to it. How many questions have been asked? 35 questions, 36. Shall I give a break at 1:00 PM? At 1:00 PM. Right now. Look, we have completed 3.5 hours, and in 3 hours, we have done 35 questions because there is a lot to write. So, but anyway, let's write what we have done so far. Let's take a break. On your request, we will meet at 12:40 PM. 1:00 PM. Many must have been terrified. Thank you. [Music] Let's start, friends, let's continue the class, and we were talking about question number 35, and after the break, question number 36 has arrived. Write the next topic: What is Waste Management? There is a good chance of a question on waste management, I think. So, write, dear, what is waste management? Let's talk about it. Please write, Waste Management. It refers to various schemes to manage and dispose of, to manage and dispose of, to manage and dispose of what? Waste. It can be discarding, destroying, processing, recycling, reusing, or controlling waste. Waste is very, very, you know that waste management. I was about to say waste is very important. Waste is not important, but can we say managing waste is very important? Are you getting this point? And write, a modern, write quickly, modern waste management. Modern waste management covers the Rs. The Rs. Now, what are those Rs? Listen carefully. That is given over there. First, rethink. Quickly jot it down, please. Rethink, refuse, reduce, reuse. All start with R. Recycle, regulate, research. Okay? So, that is waste management. Question number 36. I am telling you. What is this? Write quickly, dear. We have reached question number 36. That is the meaning of waste. Now, what is waste management? Tell me. Does waste come out from many factories and our homes? So, forget about homes. Does a lot of waste come out from factories? Garbage. Yes. And can we say that in many places, there is e-waste? E-waste, meaning, can we say mobile phones? Their electronic waste. Tell me, radiation comes out. So, how should that waste be disposed of? And how should that waste be managed? How should it be eliminated? Do you know that plastic is said to be such that a plastic bag, a chips packet, to get rid of it, if you bury it in the ground, it takes 100 to 200 years. So, that is something. So, how to manage it? And if there is more waste, if there is more plastic waste, the more harm will be done to the environment. So, it can be. And what does waste management mean? Discarding, destroying, processing, recycling, reusing, or controlling waste is called what? It is called what? Waste management. And all these points written below. Point number three. Point number three says, what does waste management mean? What is included in waste management? So, seven things are included in waste management. Rethink. Think again. That is, think again about how to manage waste. Refuse. That is, refuse the waste that is coming in excess. Review. That is, if something is unnecessary, refuse it. Say, we will not do such work. Try to reduce waste. Try to reuse it. Try to recycle it. Try to regulate it. And research how we can manage waste further. So, that is something simple over there. And this is called what? The waste management. This question can come. Question number 37. Various sources of waste? And what are the different sources of waste? What are the various sources of waste? So, write. First is domestic waste. Yes, these are questions from your module. Domestic waste. Sir, what is domestic waste? Please write. Yes, recycling, absolutely, Aman has said it correctly. Okay, sir. Write, what can domestic waste be? Domestic waste means the question is simple: how many types of waste are there? So, can we say what is included in domestic waste? Can we say vegetable waste? You know, we eat vegetables, and inside them, the leaves and all, you know that. That is sewage waste, toilet waste, you know, garbage. So, all of these are considered domestic waste. Plastic bags, and this is the dangerous one. So, all of these, dear, all of these are, say, they are domestic waste. It is considered domestic waste. Another type of waste is industrial waste, which comes from factories. Industrial waste. And what comes in industrial waste? Harmful chemicals, harmful gases. Okay? And plastic waste also comes from here, friends. That is plastic waste. Very good. Write packing. Packing material. The waste that arises from it. So, can we say that is industrial waste? That is packing waste. Many things are used for packing things, which are packing waste, you know? That is the point. Actually, write it. And there is agricultural waste. So, we are asking the question. What are the various kinds of waste? So, one is your household waste, then industrial waste, and agricultural waste. Okay, what will come in agricultural waste? Tell me quickly. What will come in this? Write pesticides. Now, what do farmers do? These insecticides. They spray medicines on their fields. They use chemicals to increase their yield. That is given over there. Animal waste. Right? Now, cow dung or buffaloes, that is animal waste. So, all of these come under agricultural waste. Okay, and this question can come in the exam. Commercial waste. Please write, commercial waste. Now the question arises, what is covered under commercial waste? So, write what is covered under commercial waste. That is, write restaurants. Will a lot of waste come out of restaurants? Answer. Will a lot of waste come out of hotels? Yes. Auto repair. Will there be a lot of waste from damaged auto parts there too? It is waste, isn't it? Tell me. And hospitals. Can we say a lot of waste from medicines, wrappers, and all, a lot of things? So, that is commercial waste, I would say. Okay, sir, understood? Yes. And the fifth is, write biodegradable waste. Biodegradable waste. Can anyone tell me what biodegradable waste is? Anybody? Tell me quickly. Anybody? Can anyone tell me? What is an example of? Tell me quickly. A message is coming from one child. I am typing so much. Tell me quickly. Are you getting it? Can we say biodegradable waste? Write. What does it mean? Write. Those wastes. Those wastes that can be. Very good, Aman. Decomposed. Decomposed by the action of microorganisms. By the action of microorganisms. It gets destroyed. I will give you an example. What do you do? Take an apple, a vegetable, and there can be many more examples of this. Can we say human waste, animal waste? These are all vegetables, right? You throw an apple on the ground. Then insects and microorganisms will attack it and destroy it. It will get destroyed on its own in 5-7 days. So, what is this called? Biodegradable waste. So, these types of wastes, that is something, the biodegradable waste. Are you getting it? So, what is biodegradable waste? Okay, there are wastes that are non-biodegradable. Non-bio, meaning, which microorganisms. Now, you take a plastic bag. You keep it somewhere. Tell me, will microorganisms attack it and decompose it? No, it will not decompose. Even if you bury it in the ground, it will take many years, many hundreds of years to decompose. So, that is something simple over there. Are you getting this point? Understood? Tell me quickly. Okay, sir. So, that is biodegradable waste. Now you will say, sir, what are we studying in ESG? Dear, this is content from your module. Now tell me, do you understand the various kinds of waste? Question 38. And write one more question. How to manage biodegradable waste? How to manage biodegradable waste? How to manage biodegradable waste? That is, waste that can be decomposed with the help of microorganisms, how to use it? So, please write. Very good, Abhinav. So, write. One is segregation of. Write segregation of waste. Okay, what does segregation of waste mean? That the bio-waste and the non-bio-waste, the biodegradable waste and the non-biodegradable, you keep them separate. Keep them separate. It's a simple thing. Composting. Do composting of it. Okay, what is composting? That is, we are saying biodegradable waste. Managing it is very easy. Do composting. It means, what does it mean? Write. It means converting the biodegradable, biodegradable waste into manure by burying them in the earth. Burying it in the ground. That is, bury biodegradable waste in the ground so that it can be converted into fertilizer. Fertilizer, do you understand? And can we say fertilizer will be made from it, which you can use for flowers and plants? That is called composting. One is landfills. We are talking about how we can manage biodegradable waste. Write large area. What is a landfill? Large area used for waste disposal. Used for what? Waste disposal. Large areas, areas used for waste disposal are called landfills. So, the large areas that are used. For what purpose are they used? That is, to dispose of waste. As I said, there is a road near Karnal bypass. There is a large mountain made there. So, in a large area, you throw garbage. So, that is something. That area is called a landfill. And write, a landfill is a method. It is a method of managing huge amounts of, huge amounts of biodegradable waste. Biodegradable waste. That is, in biodegradable waste, what will you do? You will put a lot of biodegradable waste in one area, on the land, and keep it there. So, can we say all things will be collected in one place? So, it is a way, it is a way to manage what? And write, in landfills, what is basically done? In landfills, what is done? The garbage, garbage meaning what? That is degradable waste. It is buried. Buried. And in it, that is, all those things are buried inside the land so that it does not cause harm to the environment. So, I would say these are the various ways. Okay, sir. So, that is an important question. I think a question can be formed on waste. So, can we say different types of waste have been explained, biodegradable waste has been explained, and the method of managing it has been explained. Question 39. Write, how to, that is, techniques. Techniques of managing. Okay, what are the more dangerous things? Techniques of managing non-biodegradable waste. Biodegradable waste. Can anyone tell me? Non-biodegradable waste. Which is more dangerous waste? Just tell me. What is the difference between biodegradable and both? Tell me quickly. Those online will write and tell me. Yes. Biodegradable decomposes. That decomposes. And non-biodegradable, meaning. And write its. Okay, I will write the answer for you first. Those wastes which cannot be decomposed. Those wastes which cannot be, which cannot be decomposed. You cannot decompose them. You cannot eliminate them. Are you getting it? And write an example of it. Can anyone tell the best example of non-biodegradable? Plastic, metal, and glass. All these are non-biodegradable. And let me tell you, rubber. Non-biodegradable. Tires. Have you ever seen them? Tell me, do they decompose? No, sir. They cannot. Yes. E-waste. These mobile phones. Tell me, this mobile phone. Will it decompose? It will not, sir. This is non-biodegradable waste. So, all these are non-biodegradable waste. Now the question arises, sir, how to manage them? What is the technique to manage them? And is it good? I say, biodegradable. Biodegradable. Yes. So, it is very easy. Can we say bury it in the ground? That's it. But what about non-biodegradable? What should I do? So, again and again. This is called recycling. What is it called? Reusing the goods again and again. Reusing the goods again. Now, you know, inverter batteries come, they get used up. So, do we throw them away? They are repaired and then made new and sent. That is called what? Recycling. Now, think about it. If you start throwing away inverter batteries, how much waste will be created? Where will they stay? Then, are you getting it? E-waste is also recycled. That is, efforts are made to recycle as many things as possible. So, that is something simple. Paper. What kind of waste is paper considered? Biodegradable? Non-biodegradable? Biodegradable. That is something. Your metal watch. What kind of waste is it considered? Now tell me. Your metal watch. And you threw it away. Will it corrode? Nothing will happen to it, brother. So, that is something simple. I hope you understand this. And write. Another method is incineration or insineration. Okay, what does this mean? It involves. Listen carefully, please. It involves decomposition. Decomposition using temperature. Using temperature above 5000 degrees Celsius. When you burn it at a temperature above 5000 degrees, then it decomposes. And many things do not decompose even at 5000 degrees Celsius. And what do we call those that do? That is incineration. That is something simple. And listen. That is one more important point. Individual management. Write individual management. And what does it mean? That all this. Is this point the same as biodegradable waste and non-biodegradable waste? Non-bio. So, can we say keep them separate? And nowadays, you see, if you go to a government office or any office, you will see that liquid waste is kept separately. Solid waste, non-liquid, is kept separately. And e-waste is kept separately. So, that is something. So, by managing in this way, you can also manage non-biodegradable waste. Are you getting this point? So, that's all there is to it. Please write it down. Simple. Yes, Abhinav. Okay? Do you understand question 40? Do you understand the techniques? Yes. So, please write it down. Write one more, please. Microwaving. You can also do this. And what can be done in this? Waste is shredded. Waste is shredded and mixed with water. It is cut into small pieces and mixed with water. Yes. So, that is also simple. So, tell me quickly. So, all these. Okay, tell me first. All these were for treating which waste? Non-biodegradable. Now write question number 40. Write techniques. Techniques to manage. Techniques to manage biomedical waste. Can anyone tell me what biomedical waste is? What is the meaning of bio? Any example of biomedical waste? Do you know? Can we say, write the example first. Can we say syringe? Can we say broken glasses? Gloves. You know, doctors wear gloves. And one more is written. Now, if you understand this, then tell me. Body part. Now, suppose a kidney has been removed and another kidney has been fitted. So, what will happen to the kidney that was removed? It's waste, isn't it? And tell me, that kidney, which was removed from your abdomen, and a new kidney was fitted. So, what about your damaged kidney? Can it be microwaved? Can it be cut into small, small portions with water? What is in it? Yes. That is, someone will eat it. You don't eat it. Those who are non-vegetarians, don't you eat goat kidney? You people. Who is non-vegetarian? Have you never eaten goat kidney? Don't shout, you might get punched. If you have eaten it, how will you know if you haven't? What is it called in Hindi? Kidney is called what? Kidney is called what? I don't know. Yes. We accept that you haven't eaten it. Okay. Okay. Yes. You don't eat it. I am pure vegetarian. You eat onions. Yes, you eat them. Onions are non-vegetarian, sir. You eat them. There's nothing, sir. You don't eat potatoes. Yes, you eat them. I haven't been eating anything lately. Yes. Be quiet, you people. You are so eager to know big things. Shall I change your religion? Jain religion. Yes, yes. Aman says, I am Punjabi but not eating non-vegetarian food. Okay. What do Punjabis do? There is chicken here and there is goat here, and keeping both of them, the girl is talking and talking. Yes. No, don't do it. Okay. It is a process of sterilization. Grover says, they call it kidneys. Liver is heart. Okay. And you are Jain. I am Jain, but I should know, brother. Kidney, liver, whatever. Sir, you don't eat it. Yes, Abhinav, this is also true. Huh? You must not be eating it, right? We are pure vegetarians. You eat onions. Yes, you eat them. Onions are non-vegetarian, sir. You eat them. There's nothing, sir. You don't eat potatoes. Yes, you eat them. I haven't been eating anything lately. Yes. Be quiet, you people. You are so eager to know big things. Shall I change your religion? Jain religion. Yes, yes. Aman says, I am Punjabi but not eating non-vegetarian food. Okay. What do Punjabis do? There is chicken here and there is goat here, and keeping both of them, the girl is talking and talking. Yes. No, don't do it. Okay. It is a process of sterilization. Punjabi mast. Wow, what a thing. Gulati sir, what a thing. Okay, autoclaving. Autoclaving is a process of sterilization. Okay, sterilization, do you understand? Yes, I am telling you. Like, if you give an injection. Suppose you gave an injection to Shambhu, and now you cannot use that injection. But you know, if you sterilize it. Sterilize, meaning, if you boil it in hot water. Children's milk bottles. Mothers do what? Sterilize them in hot water so that germs are removed. So, sir, if you sterilize medical waste. It is called autoclaving.

Then it can be reused. Basically, but now syringes have come in such a way that you use the syringe and that syringe itself breaks. That syringe itself breaks because you know that you have given an injection to someone. Suppose someone has AIDS and you have given them an injection, and the same syringe is given to someone else, then brother, they will also get AIDS. So that happens basically. So that is it is a process of sterilization. Write it down. And you already know this. I have already told you. Incineration. What does this mean? Burning something. And you know it is used for tires. It is used for tires. My brother-in-law has a factory. He buys tires, meaning he buys scrap tires. And they come by weight. So tires come by weight, and he has set up a big plant inside which there are iron, meaning some tanks, big tanks. And inside them, they put the entire tires. And they burn them at 5000 degrees Celsius. And after burning, yes, there is pollution, but they have a license, it's a factory. And after burning, they make oil from it. Not oil, not oil, sorry, they don't make oil. I don't know what they make, I don't remember. I saw it, but I don't remember now. They must be making something. No, no, what they do is they make fuel. I remember this, that they burn tires and make some fuel from it, which is like coal used for burning. So they make such fuel from tires, or perhaps oil, which people in industries use instead of coal. And to burn it, something like that. So that is, how do they now, look, they are burning it, they are decomposing it and converting it into something else. Otherwise, think about how much waste would accumulate from so many tires. So that is called what? Burning at 5000 degrees Celsius. Not 5000 degrees Celsius, 4995 will also work. What can I say? Yes, yes, no, it's just that it's been told that if you burn rubber over gas, nothing will happen to it. So that's, yes, yes, it's fine. Nothing will be made, but its. He says it melts. He has done it. Okay, in this, chemicals are used for disinfection. Meaning, suppose there are some gloves, and they have become waste. Now you have used them, so can they be processed using chemicals and made new? The answer is yes. What is dry cleaning? In dry cleaning too, what do you do? The cloth gets dirty, you apply chemicals to it and make it new. Then we wear it. That's all the dry cleaning. So you can say it's something like dry cleaning. And an example of this is given. Write it down. Write it down. Chlorine. Chlorine is a chemical used to treat water and kill microorganisms. And where is this chlorine used? In water parks. Do you know? That's where they use it, brother. And nowhere else because that's where the most waste is. People do everything in it. They are English, these people too. Okay, Dipanshu, alright, son, you get tanned from that chlorine water. No, I don't go there. No, no, I don't need to learn. Yes, okay, let's move on. Let's move on. We are talking about different types of waste. Write it down. Please write the next point. E-waste management. Important question. Please don't make noise. Listen carefully. Very good, Love. Very good. Hi sir, how are you? I am just coming from giving my M.Com paper. Very good. May God make you pass. Yes, so should I make you fail in B.Com? Meaning, meaning, what can I say? You will fail. Tell me. Alright, you are silly children. Yes, he will give a party. Yes. Okay. You have lost your mind. E-waste is electronic products that are unwanted. When your mobile phone breaks, you will throw it away. So this is unwanted, comma, not working, not working, and near to end. Do you have a TV at home that is on the verge of dying? Then it is e-waste, and you will throw it away. You are enemies of the environment, you people. Enemies. And write examples. Mobile phone, battery. Very good, very good, Love. Very good. Listen to this boy. His exam is in June. His name is Love Upadhyay. He has revised this entire module, all the scanners, three times. Yes, that's why you will pass, right? Mobile battery, VCR. Well, VCRs don't come nowadays. Meaning, they used to come before. You might not have even heard the name VCR. Have you ever heard of VCR? What is it? Okay, just write. Next, write. The Central Government has framed. Now you are going to get beaten. Beat this, beat this. Has framed e. I have never beaten girls in my life. But I feel like the girls in this batch will be beaten. I swear. E-management Rule 2022. Look, look, they are laughing like mad. Your house name is Chandramukhi. They call you Chanda more. Yes, sir. One day, they are thinking of this name. Shh, shh, name. Sami, focus a little more on this instead of naming. It's all for nothing. Okay, write. CG has framed e-management waste rules 2022. And write some of its salient features. Please write some salient features of this rule. This rule will apply. Apply to every, every manufacturer, every producer, every refurbisher. Do you understand refurbisher? Meaning, fixing it and selling it again. And recycler of e-producer. E-producer, I am saying e-producer, meaning electronic. Meaning, these rules that the government has made, who will they apply to? Those who manufacture, produce, refurbish, recycle e-products like mobile, laptop, whatever. These rules will apply to all of them. That's good, sir. And write, please. Second one is and all above players. Will anyone tell what all above means? The four people named, one, two, three, and four. All above players. All these players have to get registered. They have to get registered with the CPCB. Central Pollution Control Board. Write. What is the full form of CPCB to write? Central Pollution Control Board. And write, if they don't get registered, without registration, they cannot carry on the business. They cannot carry on. They cannot carry on this business. They cannot carry on the business. And write. And this registration you have to get done with whom? With CPCB. So write, you will have to get this registration done online. How will it be done? Say, online registration will be done. And write, under these rules, the Central Pollution Control Board and in these rules, new rules have been prescribed. What has been prescribed? New rules have been prescribed. And son, new rules have been prescribed for solar panels. Some new rules have been prescribed for solar panels. And in this, a new concept has been introduced because you have to tell the salient features. If it comes in the exam, you just have to tell these salient features. A new concept has been introduced, that of EPR. EPR means EPR's Extended Producer Liability. Extended Producer. You have now done so many questions. This is about the 42nd question. This is the 41st question. I hope you are understanding how dangerous this ESG paper is. Meaning, understanding and doing these things is difficult in itself. Write, please. So these are some salient features. Salient features of what? In front of you. Regarding the environment, e-waste management. Sorry. Question 41. Question 42. Extended. Ah, Extended Producer Liability. What is Extended Producer Liability? That whoever has made an electronic product, these rules have put a lot of responsibility on them. That's good. We don't need to read what responsibilities have been put. We don't need to read that. This is a good thing. Yes. Responsibility. Wow, Shambhu, wow. What a thing. You said it at once by looking. And some students write anything. No, Love, already done, son. Top 30 drafts have already been done. You can see from there. Write. Next one. Keep environment policies. Key environment policies in India. Some key environment policies in India that deal with the environment. Just write their names. Dipanshu will tell you, son. National Water Policy 1987. National Water Policy 1987. National Forest. In this question, you just have to write the names of the laws and nothing else. National Conservation Strategy. National Conservation Strategy and Policy Statement. National Water Forest. What is Water Forest, by the way? A forest from which water comes from the trees. Press the button on the trees. Press the button. Yes, yes. Point four. National Population Policy 2000. Ah, National Population. Meaning, population. Controlling population. Isn't it? Yes. Write. National Environment Policy. And here we are talking about policy, not an act. And this is a policy made by the government to save the environment. Ah, if the population decreases, why will pollution decrease? Wow, wow. What an intelligent answer. National Agro-Forestry Policy 2014. Something must be there. Okay, let's move on. So that is, meaning, here you just have to write the names of the policies. Question finished. Question 43. Yes, this is in your module. Should I skip it? Leave it? Say, I'll remove everything. Environment permits. Write. What is this? Basically, the government has adopted. Don't make noise. The government has adopted a new method. The government has adopted a new method of classifying. Each type of industry. Each type of industry. Write, please. So the government has adopted a new method of classifying each type of industry. The government has identified four industries. The government has identified four industries. So the government has classified four industries. Write. One is Red Category. Yes. Say, then what will come? Orange Category. Write. Green Category. Now say it once. Wow. Red Category. It was in Executive. Okay. Now what should I write next? It was, it must have been. Write. Write. Red Category. Red Category is considered when the PI score is equal to more than 60. Orange Category, when the PI score is 41 to 41 to 59. When the PI score is 21 to 40. Popular Index up to 20. Ah, PI means Pollution Index. Meaning, there is a limit that if you are spreading this much pollution, then you will come into the Red Category, you will come into the Orange Category. And you know, for different categories, you will need to get different permits. You will need to get different permits. That is something simple over there. So that is question number 43. Question 44. Environmental Impact. Write it down, son. Write quickly. Until 3 o'clock, whatever can be done. No, I had told you. It was until 4 o'clock today, son. Negi sir's son's wedding. No, sorry, it's not a wedding. It's a birthday. So otherwise, his son. Why would I give a party? No, he is a friend, so ask him for a party too. Why would I give a party? So how do I invite? You go and invite. Go and invite. You go and talk. Go. Yes, you are the leader of these people. You are the leader of everyone. Hey, sit quietly, you will get beaten by me. Sir, your entertainment. Oh, please, please, please. Environmental impact is the changes. Write quickly, quickly, quickly. Impact changes in the natural or natural or built environment from the activity of humans. From the activity of humans. This is wrong, sir. I am not going to the party alone. I have some work. Only those who go to the party will go. I swear on your head. Look, you are not dead. You are not dead. You are feeling dizzy. Your eyes are closing. No, look, it's fine. Huh? You were also reborn after dying once. In your past life, she died like this, someone swore on her, she still remembers. A child is saying, where there is one girl, intelligence is discussed. Where there is more than one, there is a Panchayat. This is absolutely correct. Who is this? Sorry, Renu is saying absolutely correct. To calculate human impact on the environment. Listen. An equation is used. Can't see? No, son. Get glasses made. Listen. I = PAT. Ah, ah. Environmental impact. What does environmental impact mean? What does environmental impact mean? That the work humans are doing, the work we humans are doing, how much is it polluting the environment? To calculate this, there is an equation called IPAT. I means, what does I mean? Impact. What does I mean? Impact. Meaning, how much impact will there be? And Impact is equal to PAT. Ah, listen carefully to PAT. P stands for. P represents the population of an area. Represents what? The population of a particular area is P. A represents the consumption of each person in the population. Sorry. And T means represents how much. What does EI mean? Environmental Impact. EI means Environmental Impact is involved in creating. In creating. I told you in this session that you have to watch two classes. One is this, and the other is the class that was conducted earlier. I have taken all the questions in this class that were not in the previous class. Otherwise, doing similar things makes no sense. And here I have tried to take such useless chapters today that are very, very rubbish. But if it comes in the exam, what will you do? Now these topics, these questions we are doing, environment, e-waste management and all, but it is given in the module. If a question comes in the exam, we will die. Now, for our knowledge, it is not that impactful. Now, if we just tell you what waste management is, you will have a good understanding. But writing so much is very painful. But what to do? If it is there, it is there. What can we do? Write. Transporting and disposing of the goods. Disposing of the goods. That is a point. Write, please. C. Now tell me quickly, did you understand this? What is environmental impact? And here you don't have to do any calculation. If it comes in the exam, you just have to write this. First of all, what is the meaning of environmental impact? That the work humans are doing, we are doing, what is the damage to the environment because of it? Impact. And to consider this impact, three things are told: PAT. P, P tells how much population lives in an area. What is the consumption of that population in that area? And how much environmental impact is involved in creating, transporting, disposing of goods. In making goods, in sending goods from one place to another, write. In sending goods from one place to another, and in finishing, disposing of goods, how much impact has there been on the environment, that is called T. So that's the calculation. If it comes in the exam, write this much. There is no need to derive this calculation or show any calculation. Basically, question number 45. One more question arises here. What is energy consumption? A question can also be asked on this, friends. What is the concept of energy consumption? Write it down. Energy is a major input. Energy is a major input for economic activity. I totally agree that sir, if there is no electricity, no energy, then you cannot do any. Now tell me, if there is no electricity here, I cannot even teach you. So that is very, very important actually. Sir, you were talking about data governance, right? I got a message about the ESG course. Meaning, a child must have just received a message, ESG course, do it from us. Meaning, whoever messaged Gurbeer, meaning, they must have bought some of his data. That's how these people who call to give loans, what is that? They are managing data. Those people. Okay, tell me, do they get clients by doing this? By calling? Yes, they call 100 people. They get one client, do you know? So that is what data management is. They are using the data. Basically, energy is a major input for economic activity, basically. And write, the lack of energy resources. The lack of energy resources is a major barrier. Is a major barrier. To improve human well-being. And if energy resources are scarce, then a person cannot improve themselves. So energy is very important. We are talking about energy consumption. And then here you have to tell the types of energy. How many types of energy are there? Let's write quickly, friends. Very little time. Yes. Primary. Write. Which is found in nature. Can anyone give an example of such energy? Coal, gas, wood. Even from these, energy can be produced. Energy that is found in nature. I would say that is primary energy. Ah, write, please. Is commercial energy. Okay, commercial energy comes here. We are talking about types of energy. Commercial energy. Can I say? Purchased electricity. What did I say? Purchased electricity. The electricity we buy. Is it part of commercial energy? Yes. Non-commercial energy. Energy that is not sold. Firewood. Tell me, in the cold season, people are warming their hands by burning wood outside their homes. Is that also energy? Is it sold? It is not sold. That is non-commercial energy. So various, various types of energy. Okay. Write A. Renewable energy. Will anyone give an example of this? Renewable energy. Will anyone give an example of this? Can we say wind power? Tell me. So electricity can also be made from wind. Solar energy, hydro energy. Electricity can also be made from water. That is point D. Point D. Non-renewable energy. Meaning, ah, renewable means that which will be renewed again. Meaning, we made energy from wind, so the wind is gone. Priyanka was saying that if electricity is made from wind, the wind is gone. Oh God. Where have these creatures come from? Meaning, where are you from? Punjab? Chandigarh? Okay, meaning, what does it mean? It's correct. Non-renewable energy. What does it mean? That which will not be formed again. That is, once it is finished, it will not be formed again. That is coal, oil, oil, gas. They have reserves. If the reserves are finished, then they are finished. That's the point. But it's just this much. And write. That is simple. Did you understand the types of energy? So a question can be asked in the exam on energy. I believe that. These are your questions 45. Question 46. Essential features. Essential features of Energy Conservation Act. Energy Conservation Act 2001. And there is a law in our country to preserve energy, for energy. Some of its salient features are given. So write its salient features quickly, friends. What are those salient features? Write quickly, features. After this act came, write, please. In this act, a concept has been introduced. Energy use standard. And write. The Central Government shall fix. Shall fix energy use standards for appliances and equipment. Tell me quickly, did you understand the meaning of this line? Meaning, according to this act, friends, the government has made a law to save energy in the country. We are reading its salient features. We are not reading in detail. Salient features. Energy use standard. Does the government today set energy standards for every appliance?

The text mentions that it can be specified, for example, that a refrigerator will run on 200 watts or a fan on 40 volts. An AC can be said to run on 2 kilowatts, whatever. So, it is mentioned. Energy. What is the benefit of this? You will know how much energy an appliance uses, and if the energy usage is as stated, you can buy and use it accordingly. That's good. Please write.

The next one is "Restriction on Non-Compliant Items." Write "Restriction on." And write, if there is any equipment that is not using energy standards, meaning if there is any such equipment in the market, yes, its sale and purchase will be banned, you will not be able to sell or buy it. Understand the point. Do you understand the meaning of this line? That is, if any equipment is being sold in the market which does not specify how much energy will be required to use it, then its sale and purchase will also be, say, stopped. That's all that is being said. Nothing special. Please write.

Information Dissemination. Information dissemination. Honestly, students are also brave to read this paper and then pass it. Amazing. Yes, look, the governance portion, which is 65 marks, everything is fine, but there are three or four chapters that, I swear, I feel should not be there. Like what we are doing now, green initiatives, environment. Okay, no problem. You will see the questions from this in the June attempt, whether they come or not. Okay, please write.

"This Act requires..." Please, no noise. Energy intensive. Hey, listen, listen. Energy incentive, sorry, intensive industries to be informed, to be informed about energy conservation measures. Energy conservation. Did you understand the meaning of this line? That all companies, factories that are not capital intensive but energy intensive, where a lot of electricity is used, they will have to be aware. They will have to be informed about what measures can be taken to save energy. And in which act is this written? It is written in this act. Please write further.

Next point, write this. Energy. This is important. This question is worth seven stars. Energy Conservation. This will come, see it in the paper. Write that a new fund has been created under this act, and that fund has been named the Energy Conservation Fund. Okay? And what will be its purpose? This fund will be used. What is written as the purpose? "Fund should be used." "Fund should be used." "Fund should be used for promoting." For promoting energy conservation. For promoting energy conservation. To conserve, meaning to save energy, to spread awareness, to give advertisements, etc., that money will be utilized. Please write. Now tell me, did you understand the features? How many features are there? Four features. Listen to the fifth feature.

Carbon Credit Trading Scheme. Carbon Credit Trading Scheme. Okay? Please write. In this, CG shall specify. Here CG will specify. CG shall specify the carbon credit trading scheme to emit specified carbon dioxide. Listen for two minutes. What is a carbon credit? What is carbon credit trading? Listen, in short. Suppose there are two big factories in India, Reliance and Tata. So the government will specify. The government will say that both of you companies can emit this much carbon dioxide in a year. So what will the government fix? You will not do anything else in a year, but you will not emit more carbon dioxide than this. What will be the benefit of this? Companies will know. If our carbon dioxide exceeds the limit, our production will stop, we will incur a loss. So they will try to adopt such schemes, such technologies, which reduce carbon dioxide emissions. Are you understanding? So they will fix such limits. Okay, suppose what happened? Now, what happened? Tata's carbon dioxide emission, suppose we give an example. The government allowed 100-100 uses. How much was allowed? 100-100. Meaning, you got 100 carbon credits. You got 100. Tata got 100, and Reliance got 100. Now, what did Reliance do? Reliance used its entire 100, 110. How much was it supposed to do? So how much extra did it use? 10. And Tata used how much? 90. Did Tata reduce carbon dioxide emissions by using efficient resources? Now tell me, how much is left with Tata? 10. And how much has he used? So Reliance will have to do what? That 10 credit that is left, who has it? Tata. Now, if he wants, he can sell that 10 credit to whom? Reliance. This is called carbon credit trading. There must be some standards. Now, I don't know how they measure it. There must be some standard. How will they measure it? Oh, you ask such things sometimes. Did you understand the point? Yes, please write.

So the next one is, how to say? Okay, no problem. That's good. I will ask. I will ask Modi ji now. Please write. YouTube. You talk so much, girls. ECBC. Last point. What is its name? ECBC. Wow, what a question. Wow. Energy Conservation. Energy Conservation Building Code. Please write. "This Act requires..." "This Act requires government to prescribe ECBC for new commercial buildings." New commercial buildings. Will the online people give an example? What is a commercial building? Can you give an example of a commercial building? Of using equal to more than 100 kilowatts of energy. This helps in energy efficient buildings. Helps in energy efficient buildings. Yes. No one has responded. They are all idiots. Yes. Energy efficient buildings. Can we say a mall is running? Thousands of shops running, ACs running. So will their electricity burden be high? And how much is it? 100 kilowatts or more. And that 100 kilowatts, earlier it was 500 kilowatts, now it has been reduced to 100 kilowatts. So, any commercial building where this much electricity is used, 100 kilowatts or more. So what will you do? Say. So the government will give that building, say Ambience Mall, an ECBC code. And whoever gets that code, the government will tell that building some terms and conditions, that you have to use energy in this way. What will be the benefit of this? That building will become energy efficient. Have you ever thought when you go to a mall, there is full centralized AC, how much electricity must be used? Think about it. Are you understanding? Huh? What did you say? Sir, I am saying that in commercial buildings, won't there be places where we sit? Yes. Wow, what a thing. Very good. I asked for the name of the building. Yes, very good. You are absolutely right. Okay. Write. How many questions have been done? 46 questions. 47. These are small. Yes, there are big questions here. Write this.

What is B? What is B? Under the Energy Conservation Act, under the Energy Conservation Act 2001, which act we read above, what is B? So write, B stands for. B stands for Bureau of Energy Efficiency. Write, B stands for Bureau of Energy Efficiency. What did I say? Bureau of. B stands for Bureau of Energy Efficiency. Write. It is a statutory body. Will anyone tell me who is the regulator of the capital market? Stock exchange. Who is the regulator of the capital market? SEBI. This is saying stock exchange. Sir, I said SEBI first. After that, you don't listen. It is, it is. Did I forget myself what I had to do? Being with such idiots is ruining my mind. Write. It is a regulatory body. Stock exchange. Who is the regulator of banks? ROC. RBI. ROC. RBI. And insurance companies? Ask her. She is jumping and answering. Insurance companies. She wants to prove that we are not in the same category. It is a regulatory body. It is a regulatory body. See, Simran, बेटा, you sit in front. Understand. Write. Powers of B. Will anyone tell me? What are the powers of SEBI? You won't know anyway. Where will you tell from? No problem. Okay. Write.

Recommending norms. Recommending. Recommending norms. You people are with me, my mind has gone bad. The influence of company has fallen. Recommending norms. Many times, negative company overpowers positive company. It happens. Understand? Recommending norms. Recommending norms of energy consumption. It will tell norms, like for which appliance, for which equipment, how much energy should be consumed. For what, how much energy should be consumed. So this is the power of B. Write. Issue energy saving certificates. Can it give energy saving certificates to big companies, saying how much energy you saved in your company last year? Yes, sir. Developing standards. Developing standards for appliances. Developing standards for appliances. Appliances. Understand, TV, mobile phones, and all that. Write. Undertake promotional activities. Why promotional activities? Say, बेटा, why promotional activities? So that awareness can be spread regarding energy consumption. That's the point, actually. Okay. And write. Identify. Identify the list of high energy consumers. And what to identify? To identify which consumers are consuming the most energy. These are all functions of whom? Say. And write. Creating awareness. Spreading awareness. About what? Jaago Grahak Jaago. No, about the benefits of energy efficiency. That is something simple. Spreading awareness. Okay, sir. Okay. Please write. Make it fast.

You have the question in front of you. Question number 47. Who is question number 48? What do you think? Actually, in malls, actually, what happens is that these advertisements, of consumer court, of consumer, sorry, they come on our TV, Jaago Grahak Jaago. But you are absolutely right. Where, you know, high-end consumers, more factories, or whatever, they make them aware. Basically, they go and make them aware. Now, you can run three, not four fans at home. Say, you have run the fourth fan. The energy wasted from that is more than the energy wasted. They will explain to you, won't they, that don't use the fan? It will be wasted in that. You understand my point? So there is no need to explain to you. So human energy will be wasted. But I will run the fan. No, they will also bring a car to explain to you. Fuel is being wasted. Human resources are being wasted. You understand? Then time is also being wasted. Okay. Then they will sit in your house and explain under the fan. Then that fan is also being wasted. What if the AC is also running? That AC is also being wasted. Oh my god. Wow, right? Shailja is saying there is no benefit. And they still won't understand. Double wastage. That's the point. So all these things have to be understood. Shambhavi, question 48. Write. Here, I forgot a question. No, no, not that much is needed. Write. Idiot. Laughing. Laughing. Crazy, come here. Write. Okay, Deepak. Write, बेटा. Question number 48. We are moving on. And here I wanted to tell you that there is a question on anti-bribery. I think a question can come from anti-bribery in the exam. And its revision series is available on YouTube. You won't find it, but this one, its revision series, anti-bribery, I think it can come in the paper for up to 10 marks this time. But you won't find this revision series on YouTube. So I will make sure that by 9 PM today, I will put it in the description of this group. I will write the heading "Anti-Bribery Revision." So do it from there. It is important.

Question 49. Write. You have to tell the motto, vision, [music] mission of the great ICICI. So say, what is the motto? Satyam Vada. Hey, leave it. Dharmam Chara. And write its Hindi meaning. Sorry, what does it mean? Speak the truth. Speak the truth. And abide by the law. And comply with the law. Speak the truth and abide by the law. Write. Vision. What does vision mean? To be, to be a global leader in promoting. Write quickly, quickly, quickly. Good corporate governance. And what is the mission? To develop high caliber. But looking at it today, it doesn't seem like students are high caliber. I swear. No, I am not commenting on anyone, but that is the point. To develop high caliber. I am telling you that the truth is, I see the difference. And I don't understand why this difference has come now. I really don't know. I really don't know. That students from 10 years ago and today's students, I feel a vast difference. 10 years ago, when we used to teach children, their way of studying, their way of understanding, their way of asking questions, was altogether different. Today's students, their main focus is only on passing the exam. The criteria has been changed. Earlier, we used to see that the actual student was actually focused on knowledge. Their main focus was on knowledge. But today, those high-caliber professionals and those people who passed at that time are doing very well and are earning very well. But I am afraid for the current generation, I don't know what they will do in the future. Because there is no focus. Actually, there is no focus on what they are doing, what they are not. Many times, it also happens, like we are teaching from the bare act. And it took 2 hours to teach one line. The student says, sir, how much more? How much more will you teach on one line? That happens. So sometimes it is not understood, what to do and how to do it. Okay. Another thing, if we don't teach, then it feels like it is not justice to the children. And if we teach, then people feel that we have taught too much. That's it. It is also like that.

Okay, nowadays, students, I am not saying that all of them have become like this, but I feel that 25 to 30 percent of the population has become like this. And if this 25 to 30 percent population has become like this, then the remaining 70 percent population will also gradually convert like this. You can assume 25 percent are like this. They are not focusing on what knowledge. The only focus is on passing, that's all. But that is a wrong criteria. I believe wrong criteria. Anyway, let's move on. So question number 50. Which category do you belong to? You also belong to this. Please write.

What are the various ICICI initiatives for influencing good corporate governance? What initiatives has ICICI taken to promote good corporate governance? This is important, friends. Please write. Very, very, very important. Note down, please. Write the heading. ICICI. ICICI-CGRI. Write its meaning. ICICI Centre for Corporate Governance. Research and Training. Today, children want a lot of money. They want to earn a lot of money. But they are not ready to study at all and not ready to work hard at all. But they don't know what is going to happen in the future. That is, a lot of bad things are going to happen. ICICI Centre for Corporate Governance Research and Training is the national research center of ICICI. Okay, question? Tell me quickly, what initiatives has ICICI taken for good corporate governance in the country? It is serving society. What does "it" mean here? CGRI is serving society by conducting various professional development programs. It has created a research institute. A national research institute. And what is the work of this research center? It keeps checking how good corporate governance can be in the country. And by conducting seminars on this, it guides its professional people about what else they should do for good corporate governance. So that is the first initiative taken by ICICI. Various professional programs. Please write. Various professional programs. Tell me, did you understand point number one? Point number two. ICICI PMQ Course. And ICICI has launched this. Please write this yourself. ICICI has launched a PMQ course. PMQ course in good corporate governance. And this course, PMQ course means Pre-Membership Qualification Course. What is it? Post-Membership Qualification Course. Understand it as Post-Membership. Write. Qualification Course. And tell me, this course has four stages. Yes, they keep doing it. They have many other courses. And if you have done this course after becoming a CS, which one? The PMQ course. Will you be taught more thoroughly on good corporate governance? And, meaning, now there is one book on ESG. If you go to this course, maybe you will get to read seven or eight books like ESG. And you will be able to learn more about good corporate governance. So this thing is not boring. Meaning, in a sense, if you read it, but yes, I think two or three chapters could have been omitted. But the thing is not boring because our course is based on this. Good corporate governance. And they are trying to teach us the international Indian framework. So in that sense, I think it is quite good. And you know, ICICI has taken another initiative. ICICI Award. ICICI gives every year. Write. ICICI has launched the ICICI National Award. National Award for Good Corporate Governance. This plays a vital role in creating awareness. And this award is given. This award is given for excellence. For excellence in good governance. In India, all companies, ICICI checks which companies do good corporate governance. And for good corporate governance, what is given to those companies? Awards are given. What is given? What happens with this? They feel motivated. And they try to do better work. This is called the ICICI Award. Write. And write. ICICI Award for Good Corporate Governance. And write. ICICI has also announced some other awards. Meaning, there is one main award of theirs, what is its name? ICICI Good Corporate Governance Award. There are many other awards that ICICI gives. The first award is, write. Best CSR Award. An award is given for CSR. Best Secretarial Audit. The one who does the best secretarial audit throughout the year also gets an award. The best practicing company secretary throughout the year also gets an award. And write. Best BRSAR Report Award. BRSAR Award. The one who does the most Business Responsibility and Sustainability throughout the year. Yes, they also get an award. So that is something. So these are some other awards. And who gives all these awards? Yes, Renu. Sir. To companies. Yes. To companies. It is given to companies. Like Reliance, Tata, Infosys, Wipro. To PCS. To PCS. No, no, no. It is given to the company. That this company. And if it is given to the company, then automatically it is for the company secretary. Because who is doing good corporate governance in the company? PCS. That is the point. And what else? ICICI has also made SSBs, you know. And SSB is Good Corporate Governance. And how many have they made? Four. Sorry, four. I hope you know all four of them. SSB One, SSB Two, SSB Three, SSB Four. Okay, which are these five things? And here.

Congratulations, Question Number 50. 50 questions also completed. I didn't think we would be able to do it, but it's a brave thing. Please write. Now listen carefully to what I have to say. We have now come to Question Number 51. Sir, it's a very important seven-star question. Stewardship. Yes, write it again, no problem. For the insurance company, this is a very important question, friends. Stewardship for the insurance company is very, very, very important for the exam. Write, stewardship means supervising something. Supervising something. Now listen carefully. All the policyholders who take a policy, what money do they give to the insurance company? Funds. And where does the insurance company invest all these funds? In the stock market. So, the insurance company that is managing your funds in the stock market. So, this is called, tell me what? Stewardship. I told you a little while ago what stewardship is. That is, stewardship means supervising something. And write, our IRDA, who is it? Tell me, IRDA. It has given some revised guidelines, my dear. What has it given? Revised guidelines. And these revised guidelines were given on the seventh of February 2020. And write, a name has been given to these guidelines: Stewardship Code. What name has been given? Stewardship Code 2020 for which companies? Tell me again, which companies are being talked about? For insurance companies. And for insurance companies, the stewardship code, the code, has certain principles. Write quickly, Principle One. In companies, sorry, insurance companies (IC) should frame this policy. Tell me, who has told this? IRDA. Should frame policy on discharging their stewardship responsibilities (SR). Write the full form of SR: Stewardship Responsibility. Every insurance company has to make a policy. Tell me quickly, on what should the policy be made? That they should do what with their stewardship responsibility? Tell me. And insurance companies should frame policy on how to manage. How to manage conflict of interest (COI). What is the meaning of COI? Conflict of Interest. What is the meaning of conflict of interest? The meaning of conflict of interest is that the insurance company's own interest and the policyholder's interest should not conflict. For this too, the insurance company will have to make a policy. And write, insurance companies should monitor investee companies. Now, tell me, what is the meaning of this line? Now tell me, what did the insurance company invest in? Tell me quickly. The insurance company invested in Reliance stock. So, what did Reliance become for the insurance company? An investee company. Now, you have invested money, so is this company working properly or not? Who will check this? Tell me. The insurance company. So, the insurance company should make a policy on how you will monitor the company in which you have invested money? How will you check it? And please write, Principle Four. Insurance companies should, should clearly, should clearly set out circumstances. Clearly circumstances in which they will interfere with an investee company. And every insurance company will again have to make a policy in which it will state under what circumstances will you interfere with the business of the investee company? Can you tell me? If our investee company, we have invested money in Reliance. If it starts going for revival, it starts going for winding up, or it goes for a compromise arrangement, it goes for merger or amalgamation, it goes for takeover, then we will first interfere with it. Interfere means we will discuss why are you doing this? Tell us. So that is point number four. Write point number five, please. How many principles are there? And insurance companies should have, should have a clear policy for collaboration. And every insurance company should have a clear policy on how it will work with other insurance companies or not. So, there should be a clear policy on this too. And write, Principle Number Six. Insurance companies should have a clear policy on voting. And the insurance company will also have to clarify in its policy whether you will vote in the general meeting of the company in which you have invested money, in the investee company, or not? How will you do it? There should also be a policy on that. So, these are six principles. You should remember all these six principles. And let me see if there is anything else. And there shouldn't be, brother. Okay? So, that is the six principles. How many questions are done? Tell me. Write, Question 52. Is it mandatory for insurance companies? What, my dear? Is it mandatory for insurance companies? To vote in their investee companies? In the general meeting of the investee company? Is this mandatory for insurance companies or not? Yes or no? So, write, IRDA has told the answer to this. IRDA has told the answer to this. Write, insurance companies should, should, it is written. Is it written 'shall'? Should exercise. Now, what does this mean? Voting rights in the investee company. Meaning, it is not mandatory, but you should do it. And write, and who has been given the responsibility to look after how voting rights will be exercised or not? Do you know? The Audit Committee. Who has been given? The insurance company. Audit Committee of which company? Of the insurance company. Write quickly, third. But there are two cases where it will be mandatory for the insurance company to vote in the investee company. There are two such cases where it will be mandatory for you to vote in the insurance company. There are two such cases. Write, the first case. If the size of AUM, will anyone tell me what is the meaning of size of AUM? Assets Under Management. If an insurance company, AUM means corpus. Corpus means the total fund available with the insurance company given by the policyholder. So, sir, if an insurance company has funds, the size of AUM. And write, holding. So, write here, first point. If you have up to, if the insurance company has AUM up to two and a half lakh crore, and if you have more than two and a half lakh crore AUM, then it will be mandatory to vote in that company. In such a company, in that company, where you have equal to or more than 3% of the paid-up share capital, and where you have 5% paid-up share capital. Tell me quickly, in which company is voting mandatory? Did you understand? Suppose this is LIC. A practical question can come on this. LIC, and the AUM LIC has. AUM means Assets Under Management is 5 lakh crore. How much, tell me? And you have held 4% in Reliance. 4% of its total. So, will you have to vote here? No, sir. But if you have held 5%, then you will have to vote mandatorily. The lawmaker wants to say this. So, you will have to vote mandatorily. Then you won't be able to escape. That is something simple. Can we move forward? Shall we move further? Write, Question 53. Make it fast. Question Number 53, please write. Policyholder Protection Committee in Insurance Company. Write, the insurance company, what did I say? The insurance company. As per IRDA, it has to form another committee, what is its name? Policyholder Protection Committee. What name is given? Tell me. Policyholder Protection Committee. Write, what are the functions of this committee? What are the functions of this committee? Wow Shambhavi, wow, what a thing! To protect the rights of policyholders. Protect policyholders. And tell me. No, I don't know what else I have made you write. It should also come. Of sound and healthy market practices. Healthy market practices means you should not follow any wrong practices to sell policies. And write, second point. That IRDA has issued some guidelines. What has IRDA done, my dear? Issued some guidelines. And write, first write the name: Protection of Policyholder Interests Regulation 2002. Write, Insurance Advertisement and Disclosure Regulation 2002. Write, that is Insurance. Yes, yes. IRDA's circular, Guidelines on e-mode of claims. Write it. Also write AD. Write, cross it out and write. Wow, what a thing. Yours is correct, ours is wrong. But I have corrected you. Okay, it's not even correct. Yes, you are right. Okay. Write. And it is the job of whom to comply with all these guidelines? The insurance policyholder protection committee. Hey, hey, listen. Protection. That is, Policyholder Protection Committee. Make it fast. Write this. And that all companies, insurance companies are complying. Whose job is this? The Policyholder Protection Committee. So, these are the various functions given there. Write it. One question, time is short, so I am making you write. You will have to do it yourself. June people, website disclosure is easy. And I will tell you a little bit. Website Disclosure Regulation 54. Sorry, 46 of LODR. What disclosures a listed company has to put on its website. This is very important. This question can come in CMA DD and ESG both. Very, very, very important. Remember that. And write this, please. Don't forget this. This question is very important. Do on your own. It's easy to do, but I can't do it right now because time is short. Write quickly. That is Question Number 54. There is a lot of content that you have to put on a website, on your website. But is it mandatory to maintain this website? For listed or unlisted? It is mandatory only for the unlisted company. No, for unlisted, it is optional. So, that's all. Shall we move on? Okay, I am writing Question 55. I have sent an amendment video for ESG to all of you on the WhatsApp group. What did I send for ESG? Amendment video. Call it amendment video or supplement video. I have already done it and already sent it. And you all have to do this mandatorily. You will see seven or eight marks from it in the paper. The supplement video. And I shared it on the WhatsApp group. I will also share its link here, in the description of this video. You just have to do one thing. Listen, online people, whatever I have said that I will add to the WhatsApp, in the description of this video, write in the comments which link to add, so that I remember and I add it for you. It's simple. WhatsApp. You don't have to write this. Okay? No, you go down and meet them. Okay. Write a short note on CACG. Yes, absolutely, you understood correctly. Write. Yes, I will send the class now, then go there. Okay. Hey, listen. CACG. CACG. Write it. It stands for. It stands for Commonwealth Association of Corporate Governance. Write. This question is from a topic called Corporate Governance Forum. And what is its full form? Write. It was established in 1998. It was formed in 1998. Write. What was its main purpose? To promote excellence in Commonwealth countries. Write first, then we will discuss. What are the objectives of this organization? Can anyone tell from online or offline? What are Commonwealth countries? Those countries that were under British rule and gained independence after breaking free from them. So, an organization of those countries was formed. That is a Commonwealth country. And an organization was formed, its name is Commonwealth Association of Corporate Governance. Who called you? Oh, I was lying. There is no birthday. Go. No sir, go. Okay, study. Straighten your head. To promote, hey, listen, please. To promote good standards. You people are getting too pampered. I think one day I will have to beat one or two of you. No, no, I won't hit. Shanu will beat you. Is that right? [Music] No, they will get beaten by someone straight. Or they will get beaten by a girl. Two girls are sitting downstairs. Let's call them. To facilitate. And only one will get hit. She is set for four days. Priyanka will get hit by that girl sitting downstairs, Mahak. She just has to punch once. To facilitate the development of institutions that can disseminate standards. He has messaged, sir is calling you. [Music] To facilitate the development of institutions that can disseminate standards. That can, uh, disseminate standards in good corporate governance. Please write further. CACG is funded by member countries. Okay, who are its member countries? Now listen, the Commonwealth countries, those that were freed from the British yoke, gained independence, an association of them was formed, and they were called Commonwealth Countries. They collectively formed an organization, and its name was CACG. And CACG has two tasks. What is the first task? It works to promote good corporate governance in those Commonwealth countries. Second, and facilitate. And it works to develop institutions, meaning to form organizations, in those Commonwealth countries, in different countries like India or other countries, so that a particular organization can be formed there, and that organization can work for good corporate governance in that country. And who puts money into it? Member countries. And there are, and basically, there are 54 Commonwealth countries. 54 Commonwealth countries. You know, America was also a British colony. And write, is it mandatory to take membership of CACG? Is it mandatory to take membership of CACG? My question is, is taking membership optional or mandatory? Optional. That is something simple. Optional. That's all. Write point number eight. Point number eight, I would say. That's it. A lot. Oh, where did it go? How many questions are done? Tell me. Wow, Question 58. Write, please. Governance from Ramayana. Can we also learn about governance from Ramayana? Yes. Will anyone tell me what we learn about governance from Ramayana? So, write. Write the answer. Principles of Ramayana. The principles of Ramayana. Write quickly. The principles of Ramayana. We have the principles of Ramayana which have bearing in modern society. What did I say? Which have bearing on the modern society are as follows. Are as follows. Write, please. Meaning, what do we learn from Ramayana? And what provisions of good corporate governance do we get from Ramayana? Ramayana teaches us the first point. Ramayana teaches us that governance has no inequality. Good governance is one where there is no inequality. In Ram Rajya, Lord Shri Ram, tell me, what did he teach? No poor, no rich. The subjects are subjects. Has no inequality. No difference between, no difference between rich and poor. There is no rich, no poor. Is this good governance? Yes. And you must have heard many times, "May Ram Rajya come to the country." Ram Rajya cannot come yet. So, okay. Where do you have to go, my brother? From outside to outside. So, you can go. No problem. Wow, what dedication. That mutual trust and love is promoted. And true governance is one where there is love and trust among everyone. That is true governance. So, Ramayana will come for four marks this time. Governance promotes education. True governance is one that promotes what? Governance promotes education. Governance promotes education. Write it, please. Governance promotes education. Governance promotes health. That is the point. So, these are the principles. That is Ramayana. Ram. Write. Okay, now listen carefully. 58 questions are done. I am going to tell you two-three questions. Listen carefully, please. There is no time now, but I am going to make you write those questions. Those questions. Write the question. I won't be able to write the answers right now because of lack of time. Write Question 59. Uh, uh, a question on Corporate Governance Theory can come. You will do this yourself. I have done so much. And listen. One is this video you have to watch. And the Top 200 video you have to watch. I am telling you, you will score very well. So, one question, my dear, you will do yourself. Corporate Governance Theory. In Corporate Governance Theory, have you heard? One is Agency Theory. Have you heard the name? One is Agency Theory. Agency Theory. One is Shareholder Theory. You have to study this. Agency Theory. One is Stewardship Theory. I am writing it in short. You will write the full answer for this. Stewardship Theory. And one more, one more was there, dear. Stewardship Theory. Stakeholder Theory. 1, 2, 3, 4. Stakeholder Theory. So, these, these theories you have to do. Okay? Stakeholder Theory. And one more. Listen, I will tell you where its answer will be found. In your Chapter One, the Corporate Governance Framework one, Conceptual Framework, sorry. It will be in Chapter One. Write Question 60. A question on Vidur Niti can come. Can come in the paper. Question 60. This will also be from Chapter One. You have to do these questions yourself. Question 61. And there are Theories of Ethics. What are the theories? Theories of Ethics. And you know Theories of Ethics. Utilitarianism Theory, if you have heard. Theories of Ethics. And 1 second, wait. So, if I can just tell you for 1 minute. If I find it, I will give it to you. There is a good possibility of a question on theory coming in the paper. I want to tell you. It's just a 2-minute concept. Rather, write. There are two types of theories. One is, my dear, Teleological Theory. Regular students have been made to write everything. Everything has been told. Deontological Theory. Deontological Theory. And online students, YouTube people. Deontological Theory. These are theories of ethics. Do you know what Teleological Theory says? Teleological Theory says, even if you do a wrong act, but the result is good, then it is right. It is ethical. But Deontological Theory says that if you are doing a wrong act and the result is good, then it is wrong. For example, a person named Ram. Ram was not MBA qualified, and he lied and got a job through live streaming, and he increased sales. Now, tell me, was the work he did, the process of doing the act, right or wrong? Wrong. But the result was good. So, what does Teleological Theory say? It is ethical. If you are doing something in a wrong way, but everything is going well, then it is ethical. But Deontological Theory is the opposite of this. It says, Ram, even if you got the job by lying, and even if sales increased, it is still unethical. Meaning, it says that the end result. So, what does Teleological Theory say? What is ethical? If the end result is good, then everything is ethical. Are you getting this point? And what does Deontological Theory say? Whatever the end result, if the process of doing it is wrong, then it is wrong. A boy eloped with a girl and got married. Both parents' parents cried a lot, there were big fights, and after two years, everyone accepted. Now everyone is living happily. Teleological Theory: Ethical. Deontological Theory: Unethical. So, that is the theory basically. And this is an important question. Question Number 61. Write Question 62. You have to read the features of the Finnish Corporate Governance Code. Finnish Corporate Governance Code. Question 63. You have to read the features of the Italian Corporate Governance Code. Question 64. Write. Question 63. Question 64. And in this, the South African Corporate Governance Code, the King Report, if you have ever heard of it. About the King Report. You have to read about the King Report. And all these questions are from Chapter One. We are not able to do them because of lack of time. Did you understand? Write this quickly. So, that is Question Number 64. And one more question, Question 65. Australia's Good Corporate Governance Code. And listen, I am telling everyone one thing. If you are finding it difficult to remember the Australian, Italian, South African, Finnish Corporate Governance Codes, don't worry. Good corporate governance is the same everywhere. There should be an independent director, there should be a women director, there should be an audit, there should be accounts, financial statements should be disclosed. So, if you remember two-three countries, and if you can't remember the rest. I am saying you can't remember. I am not saying you should do this. If you can't remember, at the last moment, remember two-three countries. Write a mixed version of the rest, then maybe you will get some marks. Are you getting this point? But if you remember all of them, it will be better. So, here are some important questions from Chapter One. In total, we have done 65 questions. And along with this, listen carefully. Just two more minutes. This video, you have to do it. Okay? Along with this video, there is a second video. Second video is of Top 200 topics. We will put that in the video description. You have to do that. LODR, you have to do. Board of Directors, you have to do. I have done all of them. Accounts chapter, Audit chapter. Okay? And one more chapter, Revised Assets chapter. And there is one more chapter, that is, what was it? The anti-bribery one. I will tell you, stay seated. Are you getting it? So, you have to do all of these. And their links, we will put them in the description of this video for you. Okay, sir. So, sir, okay. I think we have done quite a few questions. And this second video is very important. In this, you will find proxy advisors, good corporate governance, its provisions, UK Stewardship Code, everything. It is very, very, very important. Don't leave it. If you do these two videos, there is a very good chance that you will easily clear the exam. Yes. Otherwise, you have to do that, my dear. Okay? So, friends, please let me know, online friends, how you liked today's video. And definitely tell me in the comments on the video how you liked it. And on which topic you want more such classes, you can also tell me. We will try our best to complete that too. That's all for today. And the rest of the things, we will discuss in the next class. Thank you so much. God bless you. We will meet.