OMTEX CLASSES: SECRETARIAL PRACTICE PAPER THREE AS PER NEW PAPER PATTERN MAHARASHTRA STATE BOARD

Secretarial Practice Class 12 Question Paper - New Pattern

AS PER NEW PAPER PATTERN MARKS : 80 TIME : - 3 HRS.

Q.1 (A) Select the correct answer form the possible options given below and rewrite the statements: (5 Marks)

1. Debentures are issued to raise _______ capital.
(borrowed, owned, internal)

2. A company raises debt capital through the issue of __________.
(equity shares, preference shares, debentures)

3. Dematerialization is ________
(conversion of physical securities into electronic form, conversion of share certificate into share warrant, conversion of shares into stock)

4. Depositors are _________ of a company.
(members, creditors, debtors)

5. The market which provides short term fund is ___________
(Capital Market, Gold Market, Money Market)

(B) Match the correct Pairs: (5 Marks)

Group A	Group B
1. Capital structure 2. Public Deposit 3. Transfer of Shares 4. Fungibility 5. Final Dividend	1. Voluntary Act. 2. Operation of Law. 3. Ratio of different Securities in Capital. 4. Investment in current assets. 5. Maximum 36 months. 6. Maximum 48 months. 7. Shares do not have distinctive number. 8. Shares do have distinctive number. 9. Dividend declared at the AGM. 10. Dividend declared at the statutory meeting.

1. A dividend remaining unpaid to shareholders even after the expiry of 30 days of its declaration. (Unpaid Dividend)

2. The Latin word from which the word 'Dividend' is derived. (Dividentum)

3. Borrowed or debt capital of a company. (Debenture capital)

4. Return on investment in shares. (Dividend)

5. Promissory notes issued by the government (RBI) (Treasury Bill)

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Q.2 Distinguish Between: (Any three) 15 Marks

1. Fixed capital V/S Working Capital

2. Forfeiture of shares V/S Surrender of Shares.

3. Dividend V/S Interest.

4. Interim dividend V/S Final Dividend.

5. Money market V/S Capital Market.

Q.3 Write short notes: (Any three) 15 Marks

1. Features of Equity shares.

2. Legal Provision regarding payment of dividend.

3. Function of stock exchange.

4. Ploughing back of profit.

5. Feature and advantage of Public deposit.

Q.4 State with Reasons whether the following statements are True or False: (Any three) 15 Marks

1. No company with net owned funds of less than 5 crore shall invite deposits.

Answer: False
Reason: This statement is false because private companies and public companies (which are not 'Eligible Companies') can accept deposits from their members, directors, or their relatives, even if their Net Owned Fund is less than 5 Crore. The strict requirement of Net Worth (₹100 Crore) or Turnover (₹500 Crore) applies specifically to 'Eligible Public Companies' wishing to invite deposits from the public.

2. Maximization of profits is real and complete motive.

Answer: False
Reason: Profit maximization is a narrow, short-term approach that ignores the risk factor and the time value of money. The real and complete motive of financial management is 'Wealth Maximization', which focuses on increasing the value of the shareholder's investment over the long term.

3. A shareholder can increase the percentage of final dividend recommended by the directors.

Answer: False
Reason: The Board of Directors has the authority to recommend the rate of dividend based on the company's financial performance. Shareholders, during the Annual General Meeting (AGM), can approve the recommended rate or reduce it, but they have no legal authority to increase the rate of dividend recommended by the Board.

4. DP is the representative of the depository.

Answer: True
Reason: A Depository Participant (DP) acts as an agent or intermediary between the Depository (such as NSDL or CDSL) and the investor (Beneficial Owner). The investor interacts with the Depository system only through the DP for opening accounts and conducting demat transactions.

5. A company can accept deposits payable on demand.

Answer: False
Reason: According to the Companies (Acceptance of Deposits) Rules, a company is prohibited from accepting or renewing deposits that are repayable on demand. Deposits must be accepted for a fixed tenure, which is a minimum of 6 months and a maximum of 36 months.

Q.5 Answer the Following: (Any two) 10 Marks

1. What are the Features and types of Bonds.

2. Explain the advantages/importance of depository to the investors and companies.

3. Procedure involved in the renewal of deposit?

4. Feature of Debenture Capital.

5. Features of Preference Shares.

Q.6 Long Answer Questions

Define Payment of Dividend? Explain its procedure?

What are the procedures for conversion of debentures into shares?