Sir, it is rather surprising that we should hear these words from our friend Shri Sri Parkasa. It is not that he has entirely misunderstood the scope of the amendment. If he should be chosen as the President, let him continue to be in possession of his properties. But we will assume he becomes the Commerce Member. He ought not to deal in shares the moment he becomes a Member. Otherwise, if a Commerce Member of any Government or the President gets into the share market, there is an assurance that that particular share for which he goes in is a sound one. The next day he may sell them away. He will be in a position to monopolize the shares. We are not going to clothe the President of the Federation with such powers to traffic in immoral business–there are various kinds of immorality. Now, Sir, my friend Mr. Santhanam’s amendment is that we should insist, upon the President to declare what shares he possesses. My friend Mr. Sri Prakasa says there may be a share lurking in some corner and he may not know. I don’t think he will be so negligent about his own affairs. But he expects the President to be negligent about his affairs. As regards business, even if he is a honorary President or Director of a business, and may receive only sitting fees, all the same when he has to give assent to a particular Bill, he may be induced to send it back, particularly if those provisions affect his bank or concern. I don’t mean to say that a particular thing will arise but it shows the necessity why the President should not be connected with these directly or indirectly.
