Category: Maharashtra State Board Notes

By going through these Maharashtra State Board Class 11 Sociology Notes Chapter 8 Social Change students can recall all the concepts quickly.

Maharashtra State Board Class 11 Sociology Notes Chapter 8 Social Change

→ All human societies and their cultures are dynamic and undergo continuous change.

→ Change is an integral part of human society. It may be cyclical.

→ The nature of change and the direction of change varies from one society to another, but change is inevitable.

→ Changes might be slow or rapid; the consequences of change may be constructive/positive or destructive/negative.

→ Changes proceed from one stage to another in a single direction known as linear change or changes can take place in several directions known as multi-linear change.

→ The view of looking at society from the point of view of structures and functions is called structural functionalism.

→ The term social change refers to changes that take place in the structure and functioning of social Institution.

Characteristics of Social Changes:

• University
• Continuous process.
• Temporal
• Interactional chain reaction
• Neutrality
• Short-term and Long-term change
• Planned or Unplanned change

Factors responsible for Social Changes:

• Social change is a result of the interaction of multiple factors.
• No single factor is responsible for the change in society.

Factors responsible for Social Changes:

• Physical factor
• Biological factor
• Socio-cultural factor
• Economic factor
• Technological factor
• Educational factor

By going through these Maharashtra State Board Class 11 Sociology Notes Chapter 7 Social Stratification students can recall all the concepts quickly.

Maharashtra State Board Class 11 Sociology Notes Chapter 7 Social Stratification

→ Social stratification uses the division of society into strata based on social position or class.

→ Sociologists use the concept of social stratification to refer to a system by which a society ranks categories of people in a hierarchy.

→ One has to distinguish between social differentiation or division and social stratification.

→ Social differentiation involves the formation of horizontal social divisions whereas social stratification involves vertical ranking of social strata.

Characteristics of Social Stratification:

• It is social
• Persists over generations
• Universal but variable
• Involves inequality
• Consequential

Type of Social Stratification:

1. Closed Stratification
2. Open Stratification

Closed Stratification
Caste System:

1. Segmental division of society
2. Endogamv
3. Hierarchy
4. Restriction on feeding and social intercourse
5. Differential Civil and religious privileges and disabilities
6. Lack of unrestricted choice of occupation

Open Stratification

Class:

• Wealth and Income
  Occupation
• Education
• Prestige

Gender Stratification

• Refers to the unequal distribution of wealth power and privilege between two sexes.
  Social Mobility
• Refers to change in the position of an individual or a group of individuals from one status to another.

Types of Social Mobility:

1. Horizontal Mobility
2. Vertical Mobility
3. intergenerational Mobility
4. Intragenerational Mobility

By going through these Maharashtra State Board Class 11 Sociology Notes Chapter 6 Socialization students can recall all the concepts quickly.

Maharashtra State Board Class 11 Sociology Notes Chapter 6 Socialization

→ Socialization refers to the lifelong social experience by which human beings are transformed into social beings.

→ Socialization is a process whereby an individual develops one’s personality and becomes a functioning member of society.

→ Hobbs and Blank: ‘Socialization transform the biological organism into a social being’.

→ Socialization transforms the individual self into a social self.

Socialization:

• A process of learning various form of behaviour acceptable in a particular culture
• An ongoing process of continuous learning
• A process through which an individual gradually becomes member of the society.

Types of Socialization:

1. Primary Socialization: The learning which happens in the early years.
2. Secondary Socialization: The learning which extends the entire life of a person

Process of Socialization:
George Herbert Mead has elaborated on the process of building social self. According to Mead formation of self occurs in three distinct stages.

Process of Socialization

1. Stage 1: Imitation
2. Stage 2 : Play Stage
3. Stage 3 : Game Stage

Agencies of Socialization:
The child gradually becomes a member of society by participating in different social groups and networks which can be termed as agencies of socialization.

Agencies of Socialization:

• Family
• Peer groups
• Schools
• Mass Media
• Neighborhood
• Workplace

Re-socialization:

• The individual needs to adapt and cope with new situations and environment sometimes by learning new things or sometimes even by unlearning. This process of unlearning old norms, roles, values and behavioural patterns and learning new patterns is called re-socialization.
• A prison sentence, is a good example, which not only leads to rehabilitation of an individual’s behaviour but also makes them accommodate the new norms.
• Severity of re-socialization depends on the context in which it is carried out.

Total Institution:

• Erving Goffman is credited for having popularized the term ‘total institution’, closely associated with re-socialization.
• Examples of Total Institutions are prisons, military camps, mental health facilities, and private boarding schools.
• Re-socialization is often a deliberate and an intensely social process.

By going through these Maharashtra State Board Class 11 Sociology Notes Chapter 5 Culture students can recall all the concepts quickly.

Maharashtra State Board Class 11 Sociology Notes Chapter 5 Culture

→ The term culture refers to the way of life of a member of various societies or groups. Culture is that complex whole that includes knowledge, beliefs, values, morals, law, customs, and any other capabilities and habits acquired by man as a member of society.

Types of Culture

1. Material Culture: Consists of man-made objects which are concrete and tangible in nature.
2. Non-Material Culture: Refers to the ideas created by human beings which are abstract and intangible.

Classification of Culture:

1. High Culture
2. Folk Culture
3. Mass Culture
4. Popular Culture
5. Subculture

Components of Culture:

1. Symbols and Signs
2. Language
3. Knowledge
4. Values and Beliefs
5. Norms

Characteristics of Culture:

• Culture is acquired
• Culture is abstract
• Culture is shared
• Culture is man-made
• Culture is idealistic
• Culture is transmitted among members of society
• Culture is continuously changing
• Culture varies from society to society
• Culture is an integrated system
• Language is the chief vehicle of culture

→ Participating in culture can benefit individuals in many different ways. Culture helps build social solidarity and cohesion. It leads to improved learning and valuable skills for the future.

→ Ethnocentrism means treating one’s own culture as superior and every culture displays a sense of ethnocentrism. Ethnocentrism has positive as well as negative effects.

→ Cultural hybridization refers to the ways in which parts of one culture get recombined with the cultures of another. It is a process where two originally distinct cultures come together and create something new and exciting.

→ Glocalisation refers to global processes interacting with the local processes.

By going through these Maharashtra State Board Organisation of Commerce and Management 11th Notes Chapter 4 Forms of Business Organisation – I students can recall all the concepts quickly.

Maharashtra State Board Organisation of Commerce and Management 11th Notes Chapter 4 Forms of Business Organisation – I

Meaning Private Sector Organization-

Private Sector Organization
Meaning: The private sector is the part of the economy that is run by individuals or a group of Individuals to earn profit.

Forms of Private Sector Organization-

1. Sole Proprietorship
2. Partnership
3. Joint Hindu Family
4. Co-operative Society
5. Joint Stock Company

Meaning of Sole Trading Concern / STC Sole Proprietorship-

According to Prof. J. Hansen, “Sometimes known as one man business, it is a type of business unit where one person is solely responsible for providing the capital, for bearing the risk of the enterprise and for the risk of ownership”.

According to Prof. James. Lundy, “The sole proprietorship is an informal type of business owned by one person”.

Features of Sole Trading Concern-

• Suitable for some Special Business
• Unlimited Liability
• No Sharing of Profits and Risks
• Business Secrecy
• Local Market Operations
• Individual Ownership
• No separate legal status
• Direct Contacts with Customers and Employees
• Self-employment
• Freedom in Selection of Business
• Minimum Government Regulations

Merits of Sole Trading Concern-

• Easy formation
• Quick decisions.
• Maximum Secrecy
• Direct Motivation
• Efficiency
• Lower cost
• Flexibility

Demerits of Sole Trading Concern-

• Limited Capital
• Limited Managerial Skill
• Unlimited Liability
• Lack of Stability
• Lack of Specialization
• Not suitable for large scale operation

Meaning of Partnership Firm-

(Section 4 of Indian Partnership Act, 1932 defines partnership as -) “Partnership is the relation between persons who have agreed to share the profits of a business carried on by all or anyone of them acting for all”.

(Prof. L. H. Haney defines partnership as -) “Partnership is the relation existing between persons competent to make contracts, who have agreed to carry on a lawful business in common with a view to private gain”.

Features of Partnership Firm-

• Lawful Business
• Agreement
• Number of Partners
• Dissolution
• Sharing of Profits and Losses
• Termination of Partner
• Joint Ownership
• Registration
• Joint Management
• Unlimited Liabi1ity
• Principal and Agent
• Restriction on Transfer of Interest

Merits of partnership Firm-

1. Easy formation
2. Capital
3. Business secrecy
4. Continued existence
5. Flexibility of operation
6. Decision making
7. Effort- Reward Relationships
8. Goodwill
9. Dissolution

Demerits of Partnership firm-

• Non-transferability of Interest
• Limited Capital
• Absence of Legal Status
• Problem of Continuity
• Risk of Implied Authority
• Limitations on Number of Partners
• Disputes
• Difficulty in Admission of Partner
• Unlimited Liability
• Problems of Secrecy

Types of Partners-

1. Active partner
2. Dormant partner
3. Nominal partner
4. Secret partner
5. Minor as partner
6. Partner in profits only
7. Sub-partner
8. Partner with limited liability
9. Quasi-partner

Types of Partnership Firms-

1. General Partnership Firms (Under Indian Partnership Act, 1932)

• Partnership at will
• Partiership for particular period
• Partnrship for particular venture

2. Limited Liability Partnership (Under Limited Liability, Partnership Act, 2008)

Joint Hindu Family Business-

(1) Mitakshara : According to this school, only male member of the family can inherit the family business. Hence the sons, grandsons and great grandsons become joint owners of the family property. A son gets equal rights along with his father in the ancestral property. He has a right to ask for a division of the family property.

(2) Dayabhagya : According to this school both male and female member will be co-parceners in the Hindu-undivided fami1y. e.g. after death of husband his property and business passes to his wife or other successor.

Features of Joint Hindu Family Business-

• Exists only in India
• Formation
• Membership
• Joint Ownership
• Good Credit Standing
• Management
• Profit Sharing

Merits of Joint Hindu Family Business (JHFB)-

• Easy formation
• Protection of Co.parceners Interest
• Quick and Prompt Decision
• On the job training
• Co-parcener’s liability

Demerits of Joint Hindu Family Business (JHFB)-

• Unlimited Liability of Karta
• Limited Financial and Managerial Resources
• No separate legal status
• Partition of business
• No direct relation between effort and rewards

Co operative Society-

The International Labour Organization:
‘A Co-operative Organization is an association of persons, usually of limited means, who have voluntarily joined together to achieve a common economic end through the formation of a democratically controlled organization, making equitable distributions to the capital required and accepting a fair share of risk and benefits of the undertaking”.

“Indian Co-operative Society’s Act, 1912”, Co•operative Society is a sociéty which has its objectives for the promotion of economic interest of its members in accordance with co operative principles”.

Features of Co-operative Society-

• Limited Liability
• Management
• Service Motive
• Surplus Profit
• Separate Legal
• Equal Voting Rights
• Number of Members
• Democratic Principle
• Voluntary Association rand Open Membership
• Registration
• State Support

Merits of Cooperative Society-

1. Easy Formation
2. Tax Concession
3. Open Membership
4. Stability
5. Self Financing and Charity
6. Less Operating Expenses
7. Limited Liability
8. Democratic Management
9. Supply of Goods at Cheaper Rate

Demerits of Cooperative Society-

• Limited Capital
• Inefficient Management
• Lack of public confidence
• Limited scope for expansion
• Lack of motivation

Types of Cooperative Societies-

1. Consumers Co-operative Societies
2. Producer’s Co-operatives
3. Marketing Co-operative
4. Co-operative farming societies
5. Housing Co-operatives
6. Credit Co-operatives

Producer’s Co-operatives-

• industrial Service Co-operatives
• Manufacturing Co-operatives

Joint Stock Company-

Definition of Joint Stock Company:
Prof. L. H. Haney,
“A Joint Stock Company is a voluntary association of individuals for profit having capital divided into transferable shares, the ownership of which is the condition on membership”.

Chief Justice Marshal,
“A company is a person, artificial invisible intangible and existing only in the eyes of law. Being a more creature of law it possesses only those properties which the charter of its creation confers upon it, either expressly or as incidental to its very existence”.

The Companies Act 2013, Sec 2(20)-
“A company incorporated under the Companies Act 2013 or any previous company law”.

Features of Joint Stock Company-

• Common Seal
• Registration
• Artificial Legal Person
• Membership
• Perpetual Succession
• Separation of Ownership and
• Registered Office
• Transferability of Shares
• Voluntary Association
• Limited Liability
• Separate Legal Status

Merits of Joint Stock Company-

• Transferability of Shares
• Relief in Taxation
• More Scope for Expansion
• Public Confidence
• Limited Liability
• Expert Services
• Democratic Management
• Perpetual Succession
• Professional Management
• Large Amount of Capital

Demerits of Joint Stock Company-

• Rigid formation
• Lack of secrecy
• No personal contact
• Delay in decision making process
• High cost of management
• Reckless speculation

Types of companies-

Word Meaning:

solely – only; proprietor – owner; legal status – someone with regard to law; eyes of law – from view of law; rigid – fixed; distinction – differences; expert – good knowledge in a particular area; insanity – mental imbalance; insolvency – financial loss; evolved – to develop; proprietary concern – sole trading business; lawful – legally; collectively – as a whole; outcome – result; advisable – useful; forbidden – not permitted; pay off – payment; incurred – to arise; consent – permission; proportions – share; goodwill – established reputation; fraudulent – illegal; secrecy – not to disclose anyone; confidential – to keep secret of something; flexibility – to change easily; diversify – to expand; ethical – principle; efficiency – competent; continuity – to run for long period; dissolution – to end; disputes – arguments; object – to disagree; undue – unnecessary; restricts – to obstruct; dormant – inactive; quasi – not fully; rendered – to provide; sleeping – to be inactive; bind – to tie up; nominal – in name of; void – invalid; derived – to obtain; at will – own wish; venture – project; inherit – to receive; ancestral – belonging from ancestor; successor – a person who gets the authority from another person; descended – to go down; virtue – by behaviour; custodian – caretaker; assures – to convince; consult – to seek advice; utmost – maximum; tactics – method; manipulative – to exploit ; practices – to exercise/to use; empathizing – to understand; transparent – to be clear; exploitation – to misuse; integral – essential; democratically – with regard to laws of democracy; equitable – equally; discrimination – to differentiate; honorary – unpaid; concessions – discount; privileges – advantages; exemption – state of being free from duty; amendment – changes; charity – helping others in term of cash or material; interference – to come in between; remunerative – at good price; centralized – under one roof; eliminate – to remove; pool – to bring together; exorbitant – to much high/extremely high; drastic – major/extreme; intangible – can’t be seen or touched physically; confers – to present; charter – authorised; incidental – happening; existence – to come into survival; entity – an independent body (organisation); engraved – imprint; seal – a symbol; affixed – to fix on something; perpetual successions – never ending; comparatively – to compare something with; legal advisers – a person who gives legal advices; consultants – a person who gives expert advice in a particular area; stable – fixed; complicated – difficult; time consuming – taking too much time; undue – unnecessary; appreciated – to value; unscrupulous – corrupt/dishonest; reckless – careless; fluctuation – changes/ alteration; adversely – harmfully/not favourable; ban – to restrict/to stop; in lieu of – in place of/replace.

By going through these Maharashtra State Board Secretarial Practice 11th Commerce Notes Chapter 1 Secretary students can recall all the concepts quickly.

Maharashtra State Board Class 11 Secretarial Practice Notes Chapter 1 Secretary

Origin of Secretary

Meaning and Definition

1. Oxford Dictionary:
‘A person whose work is to write for others, especially one who is employed to conduct correspondence, keep records and to transact various other businesses for another person or for a society, corporation or public body.’

2. Companies Act, 1980: “A person who is a member of Institute of Company Secretaries of India.”

Features of Secretary:

• Individual – Only an individual can be as a Secretary
• Duties – Perform routine and administrative duties O Day to day duties
  Ensure legal compliances
• Qualification – Prescribed qualification according to Companies Act, 2013
• Appointment – Can be appointed by individuals, professionals, society corporation, etc.
• Paid Employee – Paid either by salary or paid an honorarium.
• Confidential Officer – Acts as a custodian of secret and confidential information of the organization.
• Representative – Personal secretaries – represent their employers.
  Institutional secretaries who is appointed by societies, companies, government departments – represent their organizations.
• Qualities – o Concentration, intelligence, tact, loyalty, co-operation, courtesy, etc.

Importance of a Secretary:

1. Expert advice and guidance –

• opinion of secretary valuable.
• advices the superiors in the matter of policy decisions.
• guides to the management for business growth.

2. Administrator-

• routine office administration
• office management, documentation of important issues
• executive duties : like assisting policy formulation, preparation of plans, supervision on execution of plans

3. Custodian of secret information-

• access to confidential and crucial information related to the organization.
• making and executing important decisions
• guards the secrets of the organization as ‘confidential officer’.

4. Correspondent –

• responsible for inward and outward correspondence.
• correspondence with members, directors, banks, insurance companies, etc.

5. Legal compliance officer –

• ensure proper and timely legal compliances.
• perform various statutory duties.
• file returns, documents with proper authorities within the stipulated time.

6. Conducting meetings-

• formalities required to be undertaken before, during and after the meeting.
• includes preparation of agenda. sending notices, preparing minutes etc.

7. Link between management and staff –
link between management and staff. helping in effective communication.

8. Fulfillment of Secretarial Standards and Secretarial Audit-
to check whether the company is adhering to legal and procedural requirements.

Types of Secretary:

1. Personal Secretary
2. Institutional Secretary

Institutional Secretary-

• Secretary of a Non – profit association
• Secretary of a Co-operative
• Secretary of a Joint Stock company
• Secretary of a Government Department
• Other Body Corporates

Personal Secretary-

1. Appointment
2. Qualifications

1. Appointment –
Individuals appoint personal
secretary to look after other or daily routine work.
E.g. → (1) Doctors (2) Lawyers (3) Engineers (4) CA (5) Actors (6) Politicians, etc.

Qualifications-

• No specific qualifications
• Depends on the requirement of employer’s profession

Institutional Secretary-

1. Secretary of a Non – Profit Association
Example: Secretary — Rotary club — Lions club. etc.

Appointment:
may be a full time or part time person working on salary basis or on honorarium basis.

Qualification:

• no prescribed qualification
• should be acquainted with the objects and basic functioning of the organization.

2. Secretary of a Co operative Society
Example:
3ecretary – Co-op. Bank – Co-op. Housing ociety. etc.

Appointment:

• one member of managing committee is appointed as a Secretary.
• works on honorary basis.
• for large scale co-operative organisation; he/she may be appointed as a
  full time employee on salary basis.

Qualification:

• no specific qualification.
• good knowledge of the Co-operative Societies Act with at least
  graduate qualification.

3. Secretary of a Joint
Stock Company
Example:
Reliance Industries Ltd, Tata Motors Ltd, etc.

Appointment:
Company Secretary is appointed and works under the control of Board of Directors.

Qualification: As per Section 2O3 of Companies Act 2013, Company Secretary must be a member of the Institute of Company Secretaries of India (ICSI).

4. Secretary of Government Department
Example:
Finance Secretary, Defence Secretary, etc.

Appointment:
Acts as an administrative head of a Ministry or Department for Government of India or State government.

Qualification:

• requires graduation degree.
• should have passed the Civil Services Examination and should be an TAS.

Functions of a Secretary-

1. Correspondence

• to look after inward and outward mail.
• to reply to inquiries from outsiders, government department.
• to look after the various records of the organization.

2. Office management

• to supervise and control the staff.
• to look after smooth functioning of the company.
• to look after training, promotion and transfer of the office staff.

3. Reception function

• to attend to telephone calls and visitors.
• to attend to inquiries, fixing appointments, etc.

4. Financial functions

• to handle banking transactions and maintain books of accounts.
• to keep watch on receipts and payments.
• to provide information to employer, management, banks and Govt.

5. Arrange meetings

• between employer and other parties.
• to arrange general meetings and board meetings as per Act.
• to draft notices, agenda and minutes of the meeting.

6. Statutory functions
to comply the provisions of the Companies Act, Income Tax Act, Stamp Act, etc.

7. Assistance in formulating policies

• to collect statistical data and information.
• to assist the management in formulating policies

8. Providing information
to provide Information related to various departments to management, banks, government departments, shareholders and employees.

9. Administrative functions

• to assist in appointing employees,
• to distribute office work, to supervise, to train and to promote.
• to maintain all statutory books and keep under proper custody.

Qualities of a Secretary-

1. Accuracy
2. Adaptability
3. Co-operativeness
4. Courtesy
5. Initiative
6. Leadership
7. Loyalty
8. Orderliness
9. Pleasing personality
10. Knowledge seeker
11. Punctuality
12. Sound judgement
13. Tactfulness

Word Meaning:

emerged – to come out / to rise up; assist – to help someone; employer – one who keep the worker against remuneration (salary, wages); employees- one who works for someone against remuneration (salary or wages) / a person who works for somebody for salary; compliance – to follow rules / to abide; prescribed – to advice / to suggest; honorarium- payment made to professionals for their services; custodian – a person who is officially charged for something; personal- one’s own property / belonging; institutional – large organization; concentration- to focus on some work; courtesy – polite behavior towards other people; orderliness – neat and tidy / proper placement; seeker – needy person; able- guidance – valuable suggestion; executive – person at top level; formulation – creation of a plan or policy; stipulated – fixed / desired time; agenda – points to be discussed in meeting; minutes – written record of points discussed in meeting; co-ordinate – to work together; adhering – to follow; procedural – formal way to do something; acquainted – habitual; vital- important; relevant – important / needed; promotion – to lift up; voluntarily – by one’s own wish; accomplish – to achieve / to get; pleasing – good looking personality; implies – without saying directly; mannerism – behave respectfully, statutory – compulsory; appropriate – proper; effectiveness – productiveness; determined – firmly / fixed; perks – additional benefits.

By going through these Maharashtra State Board Secretarial Practice 11th Commerce Notes Chapter 9 Business Communication Skills of Secretary students can recall all the concepts quickly.

Maharashtra State Board Class 11 Secretarial Practice Notes Chapter 9 Business Communication Skills of Secretary

Communication-

• Latin word — ‘Communis’ meaning “Common”- “Shared by all”
• Definition : “It is an exchange of facts, ideas, opinions or emotions by two or more persons” — George R, Terry

Business Communication : Definition-
“It is the expression channeling, receiving and interchanging of ideas in commerce and industry.” — Brennar

Types of Communication-

1. Internal Communication
2. External Communication

Internal Communication:

• within various
• departments of an
• organization

External Communication

• between business
• organizations and outsiders.
• (banks, suppliers, creditors, Government, etc.)

Method of Communication-

1. Verbal or Oral Communication
2. Non – Verbal Communication
3. Written Communication

1. Verbal or Oral Communication

• Personal talks,
• Interviews,
• Speeches,
• Talking on telephone, etc.

2. Non – Verbal Communication

• body language
• facial expression
• eye contact
• silence, symbols, signs, gestures, etc.

3. Written Communicatin:

• reports
• letters
• circulars
• notices
• minutes, etc.

Merits of Written Communication-

• Accurate and Precise
• Economical
• Re-readab1e
• Completeness
• Eliminates personal contact
• personal contact
• Wide acces
• Documentary evidence

Essential Skills for Effective Communication-

• Listening
• body Language
• Give and Take Feedback
• Clear and Concise
• Empathy
• Confident
• Personal Touch

Business Letter: “It is a message that attempts to influence its recipients to take some action or attitude
desired by the sender.” – Robert

Layout of A Business Letter-

1. Proper arrangement of parts of a letter
2. Structural design of a. letter
3. Internal arrangement of matter

Layout of Business Letter-

1. Heading – name, address, telephone number, fax number, email Id, CIN, website, etc.
2. Date – British style or American Style
3. Reference number – left hand side below heading
4. Inside Address – name and address of receiver
5. Subject – shows purpose of the letter
6. Salutation – left hand margin below inside address
7. Body of the letter – introduction, main message and conclusion
8. Complimentary close – should match salutation
9. Signature – signature and name of person with designation
10. Enclosure – written on left hand side as ‘Enel’
11. Carbon Copy notation (C.C.) – left hand side below enclosure
12. Postscript – additional information after completion of letter
13. Identification Initials – initials of dictator and typist

Essentials of a Good Bussiness Letter (8 C’S)

1. Clarity
2. Cheerfulness
3. Conciseness
4. Consideration
5. Coherence
6. Completeness
7. Correctness
8. Courtesy

Physical Appearance of the Business Letter-

• Paper
• Typing
• Margin
• Envelope
• Spacing
• Folding
• Letterhead

Notice : It is an intimation given by the company to the member about day, date, time, place of the meeting and business to be transacted at the meeting.

Report: It is a statement of facts or opinion along with conclusion (with or without some recommendations)

Minutes :

• It is a written summary of the business transacted at the meeting.
• It is prepared by secretary, confirmed by members or directors, singed by a Chairman and counter signed by a secretary.
• It is written in past tense within 15 days of a meeting.
• It is written in minutes book in proper format.

Word Meaning:

entities – organization; verbal – oral; conveying – sending; circulars- written information distributed among people; layout – process of setting matter on a page; custom – procedure required: memos – a warning letter in written; draft – outline; authenticity – originality; factual – actual; precision – correctness; insistence – demands; economical – low cost; nominal – reasonable / less; blog – informal written material regularly updated on website; conferring – take part in a conference (meeting); pitch – the rate of sound produced low or high; gestures – to express an idea; empathy – ability to understand other; alignment – arranging in straight line; reference – mention; salutation – greeting; conclusion – finish / to end; brevity – in short; enclosure- additional documents attach to a letter; coherence – put in proper order.

By going through these Maharashtra State Board Secretarial Practice 11th Commerce Notes Chapter 8 Company Meetings – II students can recall all the concepts quickly.

Maharashtra State Board Class 11 Secretarial Practice Notes Chapter 7 Company Meetings – I

Types of Company Meeting-

1. Shareholders Meeting
2. Directors Meeting
3. Creditors Meeting

1. Shareholders Meeting:

• General Meeting
• Class Meeting

General Meeting:

• Annual General Meeting (U/S 96)
• Extraordinary General Meeting (U/S 100)

2. Directors Meeting:

• Board Meeting
• Committee Meeting

Annual General Meeting (u/s 96)-
(Equity shareholders meeting. Once in every financial year.)

Purpose :

• to adopt Annual Accounts / Directors Report / Auditor’s Report
• to declare dividend
• to elect Directors in place of retiring Directors
• to appoint auditors and fix their remuneration
• to review progress and performance of company

Legal provisions :
(1) Time of Holding General Meeting:

First Annual General Meeting: Time Period Within 9 months of closing of the first financial year
Subsequent Annual General Meeting: Time Period Within 6 months after completion of its financial year
The Interval between two AGM:  Time Period Should not be more than 15 months.
Extension of time for conducting AGM: Time Period Not more than 3 months

(2) Authority to convene Meeting — The Board of Directors
(3) Notice period — 21 clear days
(4) Date, time and place of AGM
(5) Quorum

1. Public Company
2. Private Company

1. Public Company-

Number of shareholders	Quorum
Not more than 1000	Five (5) members
More than 1000 but up to 5000	Fifteen (15) members
Exceeds 5000	Thirty (30) members

2. Private Company: Minimum two members

(6) Adjournment of Meeting – to be held on the same day, time and place in the next week.
(7) Default:

• Punishable with fine.
• Fine may be upto ₹1,00,000 in the case of continuing default.
• It may extend upto ₹5000 per day.

Extra Ordinary General Meeting (U/S 100)-

• to transact Special Business
• Convened between two Annual General Meetings.

Purpose of Extra Ordinary General Meeting-

To take immediate decisions on –

• Alteration in Memorandum of Association
• Alteration of Articles of Association
• Removal of Director before expiry of his / her terms
• Removal of Auditor before expiry of his / her terms
• Voluntary winding up of company

Legal Provisions for Extra Ordinary General Meeting-

Authority to convene:

• Board of Directors
• Board of Directors on requisition of Members
• Requisitionist themselves
• National Company Law Tribunal (NCLT) or Government

Class Meeting: (U/S 48)-

• Meaning : Held to make changes in rights and duties of particular class of shareholders.
• Resolution : Special resolutions are passed.
• Purpose : To change rights of a particular class of shareholders and get consent for the change.
• Frequency : Not held regularly.

Directors Meeting (Section 173)-

1. Board Meeting
2. Committee Meeting

Board Meeting (Section 173)-
Legal provisions

(A) Authority to Convene: Chairman of the Board

(B) Number of Board Meeting:

• First Board Meeting
  → Within 30 days of the date of it’s incorporation.
• Subsequent Board Meeting
  → Minimum of 4 Board meetings year
• One Person Company
  → at least one meeting in each half of calendar year
  → gap between the two meetings should not be less than 90 days.

(C) Virtual Meeting: By audio visual means
(D) Notice (Section 173 (3): at least 7 days before Meeting
(E) Quorum – (Section 174): 1/3 of total number of directors or two directors whichever is higher
(F) Adjournment of meeting: Absence of quorum to be held on same day / time and place in the next week.

Committee Meeting-

• B.O.D. appoint small committee of Directors
• To study the various matters / problems of the company
• Audit committee, Transfer of share committee, share allotment committee,

Creditors Meeting-

• Company hold meeting of debenture holders, depositors, lenders, bankers, etc.
• to discuss the rate of interest or in financial crisis for creditor’s support.

Functions of Secretary Related With Annual General Meeting

(1) Functions before the AGM

• Fixing the Board Meeting
• Issue of Notice
• Speech of the Chairman
• Preliminary Arrangement
• Company Accounts

(2) Functions during the AGM (3)

• Attendance (i)
• Quorum (ii)
• Reading Reports (iii)
• Writing the Proceedings
• Helps Chairman (iv)
• Conduct Poll

3. Functions After the AGM

• Drafting the Minutes
• Implementing Decision
• Sending documents and filing resolutions
• Send information to absent members

Word Meaning:

dividend – a part of Company’s profit distributed to shareholders for their contributions; remuneration — salary; quorum — minimum numbers of Members required for the meeting; winding up — closure of company; requisitionist — a person who requests to call a meeting; resolution — a decision was taken at the meeting; consent — approval; frequently — regularly; dormant company — a company whose progress is slow; poll — election; secure — to fixed; assists — to help; audiovisual — using both sound and pictures together; penalty — fine; adjourned — to postpone/taking a break; calendar year — year which starts from January to December.

By going through these Maharashtra State Board Secretarial Practice 11th Commerce Notes Chapter 7 Company Meetings – I students can recall all the concepts quickly.

Maharashtra State Board Class 11 Secretarial Practice Notes Chapter 7 Company Meetings – I

Meeting-

Derived from :
Latin word ‘Maeta’. meaning ‘face to face’.

Meaning:
Gathering or assembling of two or more persons for transacting any lawful business.

Definition:
“Company Meeting is an assembly of people connected with the company who have gathered for the purpose of discussing matters related to it.”
– “Show & Smith”

Importance of Company Meetings-

• Opportunities for members to come together
• Reading minutes of the previous meeting
• Fixation and implementation of policies, plans and programmes
• Analysis of problems
• Legal requirements
• Other elements

Essential of a valied meeting-

• Duly convened
• Properly conducted
• Properly constituted

Proper Convening of Meeting-

Proper Authority:

• Board of Directors
• NCLT
• Central Government

Notice(SEC 101:

• Advance written invitation containing details of meeting.
• Authorised by – BOD’s Length – 21 clear days
• Sent through
  • personally
  • ordinary post
  • registered post
  • newspaper
  • e-mail

Agenda:

• List of items to be
• discussed at the meeting
• Sent along with notice

Types of Agenda

1. Bare statement agenda
2. Draft minutes agenda

Proper Constitution of Meeting-

1. Quorum:

• Minimum number of members to be present at a meeting
• Public Company

No. of Shareholders	Quorum
Less than 1000	5 members
1000-5000	15 members
Above 5000	30 members

Private Company – 2 members
Board Meeting
1/3 of total directors or 2 whichever is higher.

2. Chairman (sec 104):
Person responsible for smooth conduct of the meeting. He presides over a meeting

1. Power
2. Duties

Power:

• To keep order and conduct the meeting.
• To decide the priority of speaker.
• To maintain order in debate
• To prevent the use of improper language
• To adjourn the meeting
• To give casting vote
• To declare result of voting
• To give ruling on point of order.

Duties:

• To see that the meeting is properly convened and constituted.
• To see meeting is conducted in a proper manner.
• To see items are discussed as per agenda
• To maintain order in meeting
• To declare result of voting.
• To see proper and correct are minutes entered and to sign them.

Proper Conduct Of Meeting-

1. Proxy (Section 105):
A person attending and voting of on behalf of a member in general meeting.

Legal Provisions:

• Appointment
• Right
• Membership
• Proxy form
• Inspection

2. Motion (Section 105):
A proposal put before a meeting by proposer or mover for consideration and adoption.

Essentials:

• must be in writing
• signed by the proposer
• put to meeting by the Chairman.
• should not contain any sort of argument, or defamatory expression.
• Wording should he affirmative
• must be within the scope of agenda.
• must be seconded by at least one member.

Kinds of Motions:

1. Formal motion
2. Substantive Motion

3. Voting :
To express opinion in a formal way

Method

• Voting by voice
• Voting by Division
• Voting by show of hands.
• Voting by Ballot.
• Voting electronically.
• Voting by Postal Ballot.
• Voting by Poll.

4. Resolution:
A motion accepted in a meeting

Type:

• Ordinary Resolution (51%)
• Special Resolution (75%).
• Resolution requiring special notice.
• Resolution requiring Registration.
• Resolution by Circulation.

5. Minutes (Section 118) :
A written record of proceedings of a meeting

Minute (Section 118)-

Meaning : It is a written record of proceedings of a meeting.
It should be prepared within 15 days after the meeting.
It must be recorded in minutes book and written in the past tense

Definition :
The term minutes means a concise and accurate official record of the decisions taken at the meeting.
– M. C. Kuchhal

Importance of Minutes :

• Authentic Record
• Evidence
• Future reference
• Legal provisions
• Information to Absent members
• Information about Resolution
• Inspection of Minutes (Section 119)

Amendment: It is any alteration or changes proposed by a member to the original motion.
Amendment (moved to alteroriginal motion bt …):

(a) adding some new words
(b) deleting some word
(c) Replacing some word
(d) changing the position or place of word

Point of order : It is a question or objection raised by a member regarding the conduct of a meeting.

Point of Order(may be for…):

• Use of improper language by any member
• Absence of Quorum
• Misbehavior by any member
• Breach of rule relating to meeting

Requirement Of Company Meeting-

• Notice
• Agenda
• Quorum
• Chairman
• Motion
• Amendment
• Voting
• Resolution
• Point of
• order
• Proxy
• Minutes

Word Meaning:

determine – to find out precisely; implementation – to start doing / to enact; analyzed – detailed examination; convening – proper person to call meeting; vital – important; intimation – to bring to notice; entitled – right to do something; transacted – conducted or carried out; authority – right or power; deceased – dead; insolvent – unable to pay; initiative – to take lead / to take first step; deliberately – intentionally; annexed – extra part attached; consultation – formally discussing / formal discussion: sequence – in order; brief – short; contentious matter – legal matter; commencement – at the beginning of something; invalid – not legally recognized; preside – to be in a position of authority; priority – a thing regarded as more important than others; relevancy – closely connected; debate – a formal discussion on a particular matter; adjourn – break off (a meeting case) with the intension of resuming it later; casting vote – an extra vote exercised by a chairperson; alteration – revision or amendment; proposer – mover of a motion; motion – a proposal put before a meeting; defamatory – damaging reputation of others; affirmative – agreeing with a statement; seconded by – supported by; conclusion – to end or finish; inconvenient – not easy or discomfort; substantive motion – a motion that is changed due to amendment; amendment – an alteration in original motion; voting – to express opinion in a formal way; ballot – a system of voting secretly / paper on which you write your vote, proxies – the authority to represent someone; resolution – a final decision to do or not to do; validity – not yet expired.

By going through these Maharashtra State Board Class 11 Political Science Notes Chapter 4 Constitutional Government students can recall all the concepts quickly.

Maharashtra State Board Class 11 Political Science Notes Chapter 4 Constitutional Government

Introduction:
In this chapter, we will study the meaning of the Constitution and Constitutionalism. We will also study about Federation and compare the Parliamentary and Parliamentary system

Constitution:
Meaning: The constitution is the highest law of the country. It reflects the objectives of the State and the rights and aspirations of its citizens. It establishes the rule of law and sets limits on government authority. A constitution is a living document that indicates the way in which a country is governed. The primary function of the constitution is to lay out the basic structure of the government according to which the people are to be governed.

Components: A constitution has three distinct but interrelated components.

• Set of Rules – A Constitution is a set of rules that describes the structure, powers and functions of the three organs of government to ensure that each organ functions within its jurisdiction. It lays down the limitations on what the government can do or cannot do.
• Set of Rights- A constitution lists the rights and duties of citizens. It also lists the means of protecting the rights e.g., in India, the judiciary is entrusted with protecting fundamental rights. The rights guaranteed by the constitution are not unlimited i.e. they are subject to reasonable limitations or restrictions.
•  Set of Objectives and Values – A constitution enumerates the values and objectives that it seeks to fulfil for e.g., the Indian Constitution seeks to ensure the values of justice, liberty and equality.

Constitutionalism:
Constitutionalism refers to the idea that there should be limitations on the powers of the government which may be specified in the Constitution or may arise due to historical developments. The Magna Carta (Great Charter) (1215) and Bill of Rights (1689) in England were attempts to restrict the powers of the Monarchs.

As the concept of separation of legislative, executive, judicial powers became popular, so also, the idea of restricting powers of the government as a whole emerged. The origins of constitutionalism can be traced to the Social Contract Theory propounded by John Locke. He believed that people should have the right to change the government if it committed any wrongdoings.

The first ten amendments to the American Constitution (collectively called the Bill of Rights) imposed restrictions on the government. The Indian constitution also restricts government jurisdiction so that it doesn’t violate Fundamental Rights.

Any constitution is subject to amendments. Thus, it is possible that certain governments may use their amendment powers to remove restrictions on policies and actions.

In any democracy, constitutionalism refers to restrictions on the power of the government, adherence to the spirit of the constitution as well as ‘Constitutional Morality.

Types Of Constitutions:

1. Written Constitution – Most world constitutions are written and have been created by a specially appointed body e.g., Indian Constitution was framed by the Constituent Assembly. There is a single, written document that contains all necessary provisions.
2. Unwritten Constitution – In this case, some provisions are written while other provisions are governed by constitutional convention or precedents. There is no single written document. United Kingdom is the best example of an unwritten constitution.

Types Of Democratic Governments:
The two main types of democratic governments are Parliamentary System (as seen in the United Kingdom, India, Canada, Australia, Japan, etc.) and Presidential System (which exists in the U.S.A., Argentina, Mexico, Brazil, etc.). This distinction is based mainly on the nature of Legislature-Executive relationship.

Parliamentary System: It makes a distinction between Head of State (President of India) and Head of Government (Prime Minister and his Council of Ministers).

The main features of the parliamentary system are –

• There is a fusion of legislature and executives powers – The executive i.e., the Ministry is drawn from the legislature and is subordinate to it.
• There are two executives i.e., nominal executive (President of India or Monarch in England) and real executive (ministry). All powers are exercised by the real executive in the name of the nominal executive.
• It is a responsible government – The Prime Minister and the Council of Ministers stay in power only as long as they have the required majority in the Parliament. In case, the Ministry loses majority support, the Prime Minister has to resign along with the Council of Ministers.
• It may exist either as a Republic or as a Constitutional Monarchy depending on the nature of the powers of the nominal executive. In a Republic, the nominal executive is elected e.g., in India, while in a Monarchy, he/she assumes position on the basis of heredity e.g., in England.
• Most Parliamentary systems have a Bicameral Parliament for e.g., in England, Parliament consists of House of Commons (lower house-directly elected) and House of Lords (upper house-hereditary basis)

Presidential System: The main features of a Presidential system are –

• The President who is directly elected by the citizens for a fixed tenure is both, the Head of State and Head of Government. Thus, there is only one executive.
• The Legislature is also directly elected. Generally, members of the executive are not permitted to belong to the legislature.
• There exists a separation of legislative and executive powers as well as a system of checks and balances for e.g., Legislature can impeach the President, while the President can exercise the ‘Veto Power’ to reject any law passed by the Legislature.
• The President can continue in office irrespective of whether or not he/she enjoys majority support in the Legislature.

Federalism:
A federation refers to a political structure in which there are two sets of governments i.e. one for the whole
country and governments in each of the federal units (called Provinces or States). There is a distribution of powers between the Federal government (also known as Union or Central Government) and the State Governments. Federal governments are preferred in countries having large size and heterogeneous population.

A Federation may be performed by two processes –

1. Small political units ‘come together to establish a single, large political unit for e.g., thirteen colonies came together to fight for independence from British rule and the U.S. federation came into being. This is called centripetal process.
2. States are created by the Union government for e.g., in India, States were reorganized on the basis of language and other regional aspirations. This is the centrifugal process.

The main features of a federation are –

• Dual set of government i.e., Union and State governments.
• Division of power between the two sets of governments for e.g., in India, jurisdiction is distributed
  between the Union (Centre) and States on the basis of the Union, State and Concurrent lists (as stated in Seventh Schedule of the Constitution)
• A written constitution to enable a clear distribution of government powers.
• Independent judiciary – to resolve Centre-State or State-State disputes.

The Indian Federation differs greatly from the U.S. federation. India has been described as ‘quasi federation’ or a ‘federation with an unitary spirit’ as the division of powers favours the Central government for e.g., it has full control over the Union list and Residuary subjects and it’s laws have precedence over state laws even in case of the Concurrent list.

Unitary system: countries that are small in size prefer to have a single, central, government. This is called an Unitary System. This is seen in Cuba, France, Bolivia, Israel, Portugal, Sri Lanka, etc. Some hitherto unitary system change to a quasi-unitary form through establishment of provinces and distribution of political power to somewhat autonomous units for e.g., UK has an unitary system. However, its regions i.e., Scotland, Wales, Northern Ireland have their own assemblies with some degree of autonomy. These are known as ‘Holding Together’ federations.