DR. BHALCHANDRA MUNGEKAR (Nominated): Sir, I support all the three Bills, which are integrated, inter-related and consistent with each other, as far as their content is concerned. This is a most timely measure that the Government is undertaking. S..

DR. BHALCHANDRA MUNGEKAR (Nominated): Sir, I support all the three Bills, which are integrated, inter-related and consistent with each other, as far as their content is concerned. This is a most timely measure that the Government is undertaking. Since 1991 the Indian economy has been globalizing and getting more and more integrated into the world economy. The structure of the economy, the dimensions of the economy and the relationships among different financial and industrial entities are also undergoing a change. That is why, legislations in a country prevailing upon at a particular point of time also needs to undergo change in order to accommodate the requirements of changing circumstances. That is why, I fully support all the three Bills - The Chartered Accountant (Amendment) Bill, 2010, The Cost and Works Accountants (Amendment) Bill, 2010, and The Company Secretaries (Amendment) Bill, 2010. Now, there is nothing substantial here which needs to deal with extensively. In the beginning, I must congratulate Shri Ahluwalia for most of the points that he has mentioned. I fully support them and I am inclined to agree with what he has said. Since beginning, the Chartered Accountants service has been a highly professional service and, that is why, the results of the Chartered Accountants examinations never exceeded six per cent.