Maharashtra Board Class 11 Secretarial Practice Important Questions Chapter 8 Company Meetings – II

Balbharti Maharashtra State Board Class 11 Secretarial Practice Important Questions Chapter 8 Company Meetings – II Important Questions and Answers.

Maharashtra State Board 11th Secretarial Practice Important Questions Chapter 8 Company Meetings – II

1A. Select the correct answer from the options given below and rewrite the statements.

Question 1.
Annual General Meeting is held _________ in a year.
(a) once
(b) twice
(c) thrice
Answer:
(a) once

Question 2.
Annual General Meeting is convened by _________
(a) Creditors
(b) Board of Directors
(c) Committee
Answer:
(b) Board of Directors

Question 3.
First Annual General Meeting shall be held within _________ months of the closing of the financial year.
(a) 6
(b) 9
(c) 15
Answer:
(b) 9

Question 4.
The quorum for the Annual General Meeting of a public company with 10,000 shareholders is _________ members.
(a) 5
(b) 30
(c) 15
Answer:
(b) 30

Question 5.
First Board Meeting is held within _________ days of the date of its incorporation.
(a) 30
(b) 15
(c) 45
Answer:
(a) 30

Question 6.
The Gap between two Board Meetings should not be more than _________ days.
(a) 30
(b) 60
(c) 120
Answer:
(c) 120

Question 7.
With the help of technology _________ meeting is held for Board of Directors.
(a) Visual
(b) Virtual
(c) Audio
Answer:
(b) Virtual

Question 8.
The Secretary has to get the signatures of the members present at the meeting in _________ ‘Attendance Book’.
(a) Directors
(b) Members
(c) Creditors
Answer:
(b) Members

1B. Match the pairs.

Question 1.

Group ‘A’	Group ‘B’
(a) Directors	(1) 21 days
(b) Annual General Meeting	(2) Statutory Report
(c) Auditor	(3) Preference shareholders
(d) Notice – Board Meeting	(4) Extra-Ordinary General Meeting
(e) Class Meeting	(5) General Meeting
	(6) 7 days
	(7) Annual Report
	(8) Debenture holders
	(9) Annual General Meeting
	(10) Committee Meeting

Answer:

Group ‘A’	Group ‘B’
(a) Directors	(10) Committee Meeting
(b) Annual General Meeting	(7) Annual Report
(c) Auditor	(9) Annual General Meeting
(d) Notice – Board Meeting	(6) 7 days
(e) Class Meeting	(3) Preference shareholders

1C. Write a word or a term or a phrase that can substitute each of the following statements.

Question 1.
A meeting in which Directors are elected.
Answer:
Annual General Meeting

Question 2.
A meeting of Shareholders is held after the financial year is over.
Answer:
Annual General Meeting

Question 3.
A meeting of the Board of Directors was held with the help of technology.
Answer:
Virtual Meeting

Question 4.
The quorum for Annual General Meeting of a public company with 4000 shareholders.
Answer:
15 Members

Question 5.
The Gap between two Annual General Meetings should not be more than.
Answer:
15 months

Question 6.
The quorum for Board Meetings.
Answer:
1/3rd rd or 2 directors (whichever is higher)

Question 7.
The Gap between the two Board Meetings should not be more than.
Answer:
120 days

1D. State whether the following statements are True or False.

Question 1.
30 clear days’ notice should be given in case of the Annual General meeting.
Answer:
False

Question 2.
Shareholders can appoint a proxy to attend and vote at the meeting on their behalf.
Answer:
True

Question 3.
Board Meetings are called once a year.
Answer:
False

Question 4.
Debenture holders are the owners of the company.
Answer:
False

Question 5.
Directors have to perform duties related to Annual General Meeting.
Answer:
False

Question 6.
Quorum is just before the commencement of the meeting.
Answer:
True

Question 7.
Secretary takes down the notes of the proceedings of the meeting.
Answer:
True

1E. Find the odd one.

Question 1.
Shareholders Meeting, Directors Meeting, Committee Meeting.
Answer:
Shareholders meeting

Question 2.
Board Meeting, Committee Meeting, Class Meeting.
Answer:
Class Meeting

Question 3.
AGM, EOGM, Committee Meeting.
Answer:
Committee Meeting

Question 4.
General Meeting, Class Meeting, Creditors Meeting.
Answer:
Creditors Meeting

Question 5.
Debenture holders Meeting, Creditors Meeting, Class Meeting.
Answer:
Class Meeting

1F. Complete the sentences.

Question 1.
Auditor is appointed in _________
Answer:
Annual General Meeting

Question 2.
An Extra-Ordinary General Meeting is held _________
Answer:
under special circumstances

Question 3.
Minutes of the meeting is the duty of _________
Answer:
Secretary

Question 4.
Directors are appointed in _________
Answer:
Annual General Meeting

Question 5.
Minutes of the meeting has to be drafted by the secretary in _________
Answer:
15 days

Question 6.
Auditor is appointed for a period of _________
Answer:
1 year

1G. Select the correct option from the bracket.

Question 1.

Group ‘A’	Group ‘B’
(1) ……………………..	Annual General Meeting
(2) Proxy	……………………….
(3) …………………….	Annual Report
(4) Minutes	……………………….
(5) ……………………	Notes of the proceedings of a meeting
(6) Notice of Board Meeting	……………………….

(Shareholder, 15 days, Secretary, 7 days, Auditor, Annual General Meeting)
Answer:

Group ‘A’	Group ‘B’
(1) Auditor	Annual General Meeting
(2) Proxy	Shareholder
(3) Annual General Meeting	Annual Report
(4) Minutes	15 days
(5) Secretary	Notes of the proceedings of a meeting
(6) Notice of Board Meeting	7 days

1H. Correct the underlined word and rewrite the following sentences.

Question 1.
In a Partnership Firm, there is the separation of ownership and management.
Answer:
In a Joint Stock Company, there is the separation of ownership and management.

Question 2.
The interval between 2 Annual General Meetings should be no more than 12 months.
Answer:
The interval between 2 Annual General Meetings should be no more than 15 months.

Question 3.
Annual General Meeting is called to transact “special business.”
Answer:
Extra Ordinary General Meeting is called to transact “special business.”

Question 4.
Meetings of debenture holders, depositors, etc. are called Shareholders Meeting.
Answer:
Meetings of debenture holders, depositors, etc. are called Creditor’s Meeting.

2. Explain the following terms/concepts.

Question 1.
Class Meeting
Answer:
A Meeting of a particular class of shareholders, held to make changes in their rights and duties, is called a class meeting. It is held to get their consent for the changes affecting their interest.

Question 2.
Annual General Meeting (AGM)
Answer:
Meeting of equity shareholders which are held once every year is called AGM. It is held to review and discuss the progress made by the company during the financial year. It is held to take decisions like:

to adopt Annual a/c, Director’s Report, and Auditor’s Report
to declare dividend
to elect directors
to appoint auditors and fix their remuneration.

Question 3.
Extra Ordinary General Meeting
Answer:
A meeting held to discuss and decide special or urgent matters like alteration in MOA or AOA, removal of directors or auditor before expiry of his term, voluntary winding up of company, etc is called an extraordinary general meeting. Such meetings can be called by the Board of Directors or by BOD on the requisition of members or by Requisitionist themselves or by National Company Law Tribunal (NCLT) or Government.

Question 4.
Director’s Meeting
Answer:
The meeting which is held to discuss the policy matters of the company is called as Director’s meeting. Such meetings are classified into Board meetings and Committee meetings. The First Board meeting is to be called within 30 days from the date of incorporation.

3. Answer in brief.

Question 1.
State any four legal provisions relating to Extra-Ordinary General Meeting.
Answer:
Legal Provisions relating to Extra-Ordinary General Meeting:
(i) Time for holding a meeting:
Extra-Ordinary General Meeting is between two Annual General Meetings under special circumstances. It can be held at any time as per the requirements of the company.

(ii) Authority to Convene:

The Board of Directors has the right to call an Extra-Ordinary General Meeting by sending a proper notice to the shareholders.
Extra-Ordinary General Meeting can be called by the members holding at least 1/10th of the paid-up capital or 1/10th of voting power in the company. Board must call Extra-Ordinary General Meeting within 45 days of receiving the requisition from the members.
If the Board fails to call such a meeting then the requisitionists themselves call this meeting within 3 months from the date of deposit of the requisition. The company shall pay all the expenses incurred for holding Extra-ordinary General Meeting.
National Company Law Tribunal (NCLT) can order such meetings on its own or at the request of a director or any members having voting rights.

(iii) Notice:
The notice must be given to all those who are entitled to receive it, at least 21 clear days in advance of the meeting. It is sent to the members at their registered address by post or through electronic mode like Email, etc.

(iv) Quorum:
According to the Companies Act, 2013, the quorum for Extra-Ordinary General Meeting of a public company is as follows:

No. of Shareholders	Quorum
Upto 1000	5 Members
1000 – 5000	15 Members
More than 5000	30 Members

For a private company minimum of two members should be present in person.

4. Answer the following questions.

Question 1.
Explain the functions of a secretary related to the Extra-Ordinary General Meeting.
Answer:
Functions (duties) of a secretary related to Extra Ordinary General Meeting:
Duties Before the Meeting:

Board Meeting: The secretary has to convene a board meeting in consultation with the Chairman. The board has to decide the day, date, time, and place of the meeting.
Notice: The secretary drafts the notice, agenda, and other required documents. He gets it approved by the chairman. Then he sends 21 clear days’ notice and other documents to the members before the meeting.
Public Notice: He has to publish notice of the extraordinary general meetings in leading newspapers for the information of the general public.
Arrangement: The secretary has to make arrangements such as booking the hall, refreshments, documents, etc.

Duties During the Meeting:

Quorum: The secretary checks the quorum at the beginning of the meeting and informs the same of the chairman.
Attendance: The secretary has to get signatures of members present at the meeting in ‘Members Attendance Book’.
Reading Notice: The secretary reads out the notice and agenda of the meeting as per the direction of the chairman.
Assist Chairman: The secretary assists the chairman by providing necessary information, records, document, etc.
Notes of Proceedings: The secretary should take down the notes of the proceedings of the meeting. He has to draft the minutes on the basis of these notes.
Poll: The secretary has to make necessary arrangements for taking poll if it is demanded.

Duties After the Meeting:

Drafting Minutes: The secretary drafts the minutes of the meeting on the basis of the notes taken down during the proceedings of the meeting.
Implementation of Decisions: The secretary instructs the concerned department for implementing the decisions taken at the meeting.
Filing Resolutions: The secretary has to file the certified copy of resolutions passed at the meeting to the Registrar of Companies.