Although knowledgeable and efficient managers from the front ranking b-schools are quite ensuring the galloping pace of our economy's growth, deficiency on the part of corporate houses, in the areas of social responsibility and inclusive growth process are creating serious roadblocks to development, said Hon'ble Judge of Supreme Court of India, Justice Ananga Kumar Patnaik. Addressing the 4th Annual Convocation of the ace b-school ASBM, Justice Patnaik said that rule of law is a basic feature of the Constitution and therefore, laws and rules have to be obeyed by all concerned including the Governments.  Respecting the basic features of the constitution, no business house, however mighty or wealthy it may be, should recklessly set up projects or carry on business in breach of the fundamental rights, constitutional rights, the laws and the rules resulting in litigation, intervention and delay in execution of the project. He insisted that institutes of business management should inculcate basic understanding of constitutional and legal limitations within which business can be carried on by individuals , firms or corporate. With the Government liberalising its policy and privatising many of the erstwhile governmental functions, the demand for Business management graduates and diplomas has grown in new areas such as Banking, Insurance and Financial Sectors, Education, Hospitals and even in sectors which were hitherto unorganised such as retailing and housing, Justice Patnaik added.  Congratulating the passing out students, he said that their upward rise is linked with proper application of knowledge into practice, character building and getting up-to-date information. Presiding over the function and conferring diplomas to the passing out batch, the Chairman of ASBM Board of Governors and MD of Mahindra Navistar Automotive, Shri Rakesh Kalra urged upon to focus on 'passion, innovation and society'. The Founder and Group Director of ASBM, Prof. Biswajeet Pattanayak appealed to the passing out batch for emulating the ethical spirit of Japanese people who proved the Confucian dictum true that 'our greatest glory is in not failing but in rising every time we fall.' In this convocation, diplomas were conferred upon the 337 students of PGDM, International Business, Retail Management, Banking, Insurance and Financial Services and Logistics & Supply Chain Management. The first batch PGDM pass-outs of ASBM-Hyderabad and second batch of Executive PGDM students under distance education programme also received their diplomas. The Chief Guest Hon’ble Justice Ananga Kumar Patnaik conferred the Gold Medals to the toppers of various programmes instituted by reputed business houses. were given out to toppers of various batches. While Welspun Gold Medal was awarded to PGDM topper Shivani Sahoo, Topper of PGDM-IB Bhaskar Mantri received Dhanush Gold Medal. The topper of PGDM-Retail Sumeet Kumar got KKCL Gold Medal while PGDM-BIFS topper Kavita Kedia bagged the State Bank of Hyderabad Gold Medal. The PGDM-LSCM topper Malay Ranjan Behera was awarded Gati Gold Medal while the Director's Gold Medal went to the all rounder of the institute. The PGDM topper of ASBM-Hyderabad, Soumita Bannerjee won the Sew Gold Medal. This convocation was attended by members of ASBM Trust, Board of Governors, industry leaders, Dean of ASBM Prof. Kalyan Shankar Ray, Chairman of PG Council Prof. Mrutyunjay Dash, faculty members, parents, media persons and students.