S.P. OBJECTIVES

One Word Substitution & Document Relations

Pedagogical Revision Tool for S.P. Students

Instruction: Click on the questions below to reveal the answer. Test your knowledge before looking!

Write one word or phrase or a term which can substitute each one of the following.

1. A motion which is finally passed at the meeting

Ans: - resolution

2. The amount which is actually paid on shares by a members of the company-

Ans: - Paid-up Capital

3. The Message not included in the body of the letter

Ans: - Post-Script

4. A bearer Document of title to shares issued by a company under its Common Seal

Ans: - Share Warrant

5. Transfer of shares by operation of law

Ans: - Transmission of Shares

6. To sanction shares to the applicant

Ans: - Allotment of Shares

7. Report sent to the members before annual general meeting

Ans: - Annual Report

8. Money Paid Along With the Application of Share-.

Ans: - Application Money

9. Any message not included in the body of the letter

Ans: - Post-Script.

10. Invitation to the public, for investing in companies share capita

Ans: - Prospectus

11. A person is appointed to attend a meeting on behalf of a member

Ans: - Proxy

12. A Motion which bring to the notice of the chairman irregularities

Ans: - Point of Order.

12. A Letter which informs the applicant that shares are allotted to him

Ans: - Allotment letter.

13. The Board which has right to make call on shares

Ans: - Board of Directors.

14. A Deposit which is Kept for fixed period in Bank

Ans: - Fixed Deposit

15. A Meeting which is held once in a life time of the public limited Company

Ans:- Statutory Meeting

16. A Document of title to shares issued by a Company under its Common Seal

Ans: - Share Certificate.

17. Voluntary return of shares to the company by the share holders-

Ans:- Surrender of shares

18. Dividend declared between two Annual General Meeting-

Ans:- Interim Dividend

19. A report showing the progress in a financial year

Ans:- Progress Report

20. A list of business item to be transacted at a meeting

Ans:- Agenda

21. Capital which is included in Memorandum of Association

Ans:- Authorised Capital

22. Voluntary termination of Membership

Ans:- Surrender of Shares

23. Concluding part of a Business Letter

Ans:- Complimentary Close

24. A type of account for which higher rate of interest is paid to the bank depositors

Ans:- Fixed deposit A/C

25. A vote given by the chairman in case of tie

Ans:- Casting Vote

26. The Smallest part of the capital of a company

Ans:- Share

27. The Document creating a debt, issued under common seal of a company

Ans:- Debenture Certificate

28. First meeting of the members of public limited company

Ans:- Statutory Meeting

29. Compulsory Termination of Membership

Ans: - Forfeiture of Shares.

30. Acknowledgement of debt issued by a company under its common seal

Ans:-Debenture Certificate

31. Return on investment on Equity Shares

Ans:- Dividend

32. Concluding Part of business Letter

Ans:- Complimentary Close

33. Objection rose by a member regarding any irregularity at the meeting

Ans: - Point of Order.

34. Name and mark of the Company affixed on important documents

Ans:-Common Seal

35. Revision or Alteration of the main motion at the meeting

Ans:- Amendment

36. The amount of capital which is subscribed for by the public

Ans:- Subscribed Capital

37. Document attached to he main letter

Ans:- Enclosure

38. Representatives of Shareholder

Ans:- Proxies

39. A resolution which is required ¾ or 75% majority

Ans:- Special Resolution

40. Issue of shares at a price lower than the face value

Ans:- Shares issued at a discount

41. Issue of shares at a price higher than the face value

Ans:- Shares issued at a premium

42. Issue of shares at a price equal than the face value

Ans:- Shares issued at a Par

43. A vote given by the chairman in case of tie

Ans:-Casting Vote

44. Proposal before meeting for discussion and decision

Ans:- Motion

45. A decision to cancel the ownership of a shareholder

Ans:-Forfeiture of shares

46. An insurance policy that covers different goods kept at different places

Ans:- Floating Policy

47. A demand made by a company to its shareholders to pay whole or part of the unpaid balance on shares

Ans:- Call on shares

48. Closing words before the signature in the letter

Ans:- Complimentary Close

49. The written record of decisions taken at a meeting

Ans:- Minutes

50. Method of voting according to the number of shares held by the members

Ans: - Voting by poll.

51. A document which acts as an acknowledgement of the loan taken by a company

Ans:-Loan Agreement

Secretarial Practice Board Papers

• S.P. - March 2025 - English Medium View Answer Key
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State with what organisation/function/item are the following items/documents primarily related

1. Certificate of commencement of business-

Registrar of Companies (Public Limited Company)

2. Memorandum signed by the two members-

Private Limited company

3. Letter of Regret-

Public Company limited by shares (issued to applicant to whom shares are not allotted.

4. Auditors Report-

Auditor of Joint Stock Company

5. Pass Book –

Commercial Bank

6. Cover Note –

Insurance Company (Interim Policy)

7. Order of winding up of a Company-

Court

8. Memorandum of Association –

Joint Stock Company

9. Underwriters –

Public Company limited by shares

10. Surrender of shares –

Company limited by shares

11. Date –

Business letter/Report/Document

12. Mail Transfer –

Commercial bank

13. Goods loss by fire –

Fire Insurance

14. Alteration in memorandum of association –

Joint Stock company

15. Vote by raising hands –

Company meeting

16. Agenda –

Company meeting

17. Share Certificate –

A Company limited by shares

18. Bank Draft –

Commercial bank

19. Post Script –

Business letter

20. Insurable interest –

Insurance

21. By poll –

Company Meeting

22. Minutes –

Company meeting

23. resolution –

Company meeting

24. Appointment of auditor –

Joint Stock Company

25. Debenture –

Joint Stock Company

26. Bank overdraft –

Bank

27. Fire policy –

General insurance Company

28. Certificate of incorporation –

Register of Companies

29. Cash Credit –

Bank

30. Share Certificate –

Joint Stock Company

31. Guidelines for the issue of shares –

Securities and Exchange Board of India (SEBI)

32. Allotment letter –

Joint Stock Company

33. Casting Vote –

Chairman (Company meeting)

34. Table “A” –

Public Company limited by Shares

35. Marine insurance policy –

Marine Insurance Company

36. Share Stock –

Public Limited Company

37. Draft/Cheque –

Commercial bank

38. A report prepared by a expert group of persons –

Committee report

39. To ascertain or will of the meeting –

Voting Resolution Company Meeting

40. capitalisation of General Reserves –

Bonus Shares (Joint Stock Company)

41. Appointment of Auditor –

Joint Stock Company

42. Resolution –

Company meeting

43. Invitation by a company to offer shares to the public –

Prospectus (Public limited Company)

12th English Board Papers

• English - February 2025 View Answer Key
• English - July 2025 View Answer Key
• English - February 2024 View Answer Key
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• English - February 2023 View Answer Key
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• English - March 2020 Set A View
• English - March 2020 Set B View
• English - March 2020 Set C View
• English - March 2020 Set D View
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• English - March 2016 Set A View
• English - March 2016 Set B View
• English - March 2016 Set C View
• English - March 2016 Set D View
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• English - July 2016 Set C View
• English - July 2016 Set D View
• English - March 2017 Set A View
• English - March 2017 Set B View
• English - March 2017 Set C View
• English - March 2017 Set D View
• English - July 2017 Set A View
• English - March 2018 Set A View
• English - March 2018 Set B View
• English - March 2018 Set C View
• English - March 2018 Set D View
• English - March 2019 Set A View
• English - March 2019 Set B View
• English - March 2019 Set C View
• English - March 2019 Set D View

One Word Substitution & Document Relations for S.P. Students Secretarial Practice, Commerce, Exam Prep, One Word Substitution secretarial-practice-one-word-substitution-document-relations-exam-revision Comprehensive revision list of one-word substitutions and document relations for S.P. students.

Write short notes on National Stock Exchange?

 Meaning: -National Stock Exchange was established in the year 1992. At present, it is India's biggest stock exchange by volume. It also ranks 3^rd in the world for transacted volume. It has developed into a sophisticated electronic market where the trades take place on computers through NSEI dealer.

The features of NSE are as follows: -

1.       NSE is a company limited by shares.

2.       NSE is an all India level stock exchange

3.       The investors can trade in securities from anywhere in the world through internet.

4.       The settlement takes place on T (trade) + 2 days i.e. trade plus two working days. Thus, the money received within 2 days from the date of sale.

5.       NSE has many indexes but the most famous index is NIFTY.

6.       NSE provides transparency as the investors can check the prices for each tick.

What are the various constituents and concepts in Depository system?

1.      Depository: - A depository can be defined as ‘an institution which transfers the ownership of securities in electronic mode on behalf of its members.’ A depository is a nominee of the investors, who keeps the shares on their behalf. Therefore, the depository acts as a custodian of securities

2.      Depository participant: -Depository participant is the representative of the Depositor. Depository participant acts as intermediary between investors and depositories. An investor has no direct access to the Depositaries. The investor has to trade his securities/share through the Depository Participant. The depository participant has an identity number for identification. It has to maintain accounts of securities of each investor. Depository Participant gives intimation about holdings from time to time by sending a statement of holding or giving a pass-book. If investor desires the services of Depository, he has to open an account with Depository through a Depository Participant. At present in India, there are two depositories. They are

·         National Securities Depositories Limited (NSDL)

·         Central Depositories Services Limited (CDSL)

3.      Beneficial owner: -An investor is known as 'beneficial owner'. He is the person in whose name Demat account is opened. His name is recorded with the depository. He enjoys the rights and benefits of a member such as to get dividend, to get bonus shares, to vote at meeting.

4.      Issuer Company: -It is a company which makes an issue of securities. It must register itself with a depository.

5.      Dematerialisation: -it is the process in which share certificate are converted into electronic form.

6.      Fungibility: -The shares in depositories are fungible. They don't have distinctive number for identification.

7.      Rematerialisation: -Rematerialisation is the process by which shares in electronic form are reconverted into physical form.

8.      International Securities Identification Number (ISN): -it is an identification number given to a security of an issuer company at the time of admitting such security in the depository system.

DEPOSITORY PARTICIPANT

                  Depository participant is the representative of the Depositor. Depository participant acts as intermediary between investors and depositories. An investor has no direct access to the Depositaries. The investor has to trade his securities/share through the Depository Participant. The depository participant has an identity number for identification. It has to maintain accounts of securities of each investor. Depository Participant gives intimation about holdings from time to time by sending a statement of holding or giving a pass-book. If investor desires the services of Depository, he has to open an account with Depository through a Depository Participant. At present in India, there are two depositories. They are

·         National Securities Depositories Limited (NSDL)

·         Central Depositories Services Limited (CDSL)

According to SEBI guidelines financial institutions, banks, stock brokers can be registered as Depository Participant.

EXPLAIN THE NEED and importance OF DEPOSITORY.

Meaning: - A depository can be defined as ‘an institution which transfers the ownership of securities in electronic mode on behalf of its members.’ A depository is a nominee of the investors, who keeps the shares on their behalf. Therefore, the depository acts as a custodian of securities.

The need for depository arose mainly due the following reasons:

1.       Growth in Securities transactions: - There has been considerable growth in securities transactions, especially, in the post-reform period, i.e., since 1991. After 1991, the Govt of India introduced several reforms in the Indian Economy, including capital market reforms.

2.       Limitations of Physical Transfer: -There were several limitations relating to physical transfer of shares. The limitations were

·         Delay in transfer of shares.

·         Problem of bad deliveries

·         High cost of handling and transfer

·         Chances of loss of certificates in transit.

·         Chances of theft of certificates, etc

3.        To comply with global standards: -Almost all the developed markets had introduced the depository system ensuring efficient transfer and settlement of securities. Due to reforms in capital markets, the foreign institutions investors (FIIs) were allowed to deal in stock exchanges. For this purpose the government also introduced the depository Act, 1996.

4.       To enhance liquidity in stock markets: -There was a need to enhance liquidity in Indian Stock Markets. The seller of securities to get immediate cash payment for their transactions. The depository undertakes the trade and settlement processing through its subsidiary.

5.       To ensure transparency in allotment of shares: -Now-a-days, the allotment of shares is to be done only through the Demat mode. The allotment of shares is to be effected through the depository in the Demat account of the investors. This has generated transparency in allotment of shares and reduced manipulations relating to transfer of shares.

6.       Centralised Systems in Securities Dealings: - There was a need to adopt a central system for handling all the securities dealings. This has been made possible by setting up Central depository system, although there are two different depositories (NSDL, and CDSL).

STATE THE PROVISION FOR ISSUE OF DEBENTURES?

1.       A joint stock company can issue debentures at any time.

2.       Debentures can be issued by public company as well as by private company. Private company after securing certificate of incorporation can issue debentures. Public company has to obtain Trading Certificate for the issue of Debentures.

3.       As per section 292(1) the board of Directors has the power to issue debentures. The power must be exercised by means of resolution passed in the Board Meeting.

4.       A company cannot borrow money exceeding the aggregate of the paid capital of the company and its free reserves. As pre section 293 (1) the Act empowers Board of Directors to raise excess money with the consent of members in general meeting. The Articles of Association should specify the maximum amount that company can borrow.

5.       According to the companies Act, company cannot issue debentures carrying voting rights.

6.       Debentures can be issued at par or at premium or even at a discount. They may be issued through prospectus or private arrangement.

7.       Companies (amendment) Act, 2000 prohibits issue of unsecured debentures. Now companies can issue only secured debentures.

BOMBAY STOCK EXCHANGE

BOMBAY stock exchange limited is the oldest stock exchange in Asia with a rich heritage, it is popularly known as ‘BSE’. It was established as “The Native Shares Stock Exchange Association” in 1875. It is the first stock exchange in the country to obtain permanent recognition in 1956 from the Government of India under the securities contracts (regulation) Act, 1956.

The Exchange is pivotal (essential) and plays pre-eminent role in the development of the Indian capital market. It is widely recognised. Earlier an Association of persons (AOP) but now the exchange is demutualised and corporatized entity incorporated under the provisions of the company’s act 1956. BSE received its certificate of incorporation on 8^th August 2005, and certificate of commencement of business on 12^th August 2005. The name has been changed to ‘Bombay Stock Exchange Limited”

                                The operations and dealings of BSE were fully computerized and thus the auction (sale) system of share trading was replaced by screen based trading known as BOLT (Bombay on-line Trading System) as in other modern stock exchanges around the world. The BSE SENSEX (SENSITIVE index) also called the BSE 30, is widely used marked index in India and Asia.

                BSE has introduced a centralized online trading system called BSE webx.co.in wherein investors can register themselves with brokers worldwide and undertake transactions.

BSE aims for the following:

1.       Securities transaction to be undertaken on fair basis.

2.       Protecting investors and members interest

3.       Mobilizing resources effectively from those who have it to those who need it.

4.       Establishing a market wherein buyers and sellers can come together effectively.

OVER THE COUNTER EXCHANGE OF INDIA - (OTCEI) AND ITS FEATURES?

Meaning: -OTCEI is the abbreviation of Over the Counter Exchange of India. This is the country’s first ring less and scrip less electronic stock exchange where trading of the securities is done on the computer through a networking of the computers. OTCEI was incorporated under the provisions of section 25 of the companies Act, 1956, with the intention to protect the interest of small investors and small companies. Small companies find it difficult to get their shares and debentures listed on stock exchanges. As a result their securities become untradeable and lack liquidity. OTCEI was established in October 1990, and was promoted by a consortium of financial institution.

FEATURES:

1.       OTCEI provides trading facilities in the securities of small companies which could not meet the listing requirements of stock exchange.

2.       It has nationwide coverage through its dealers.

3.       It offers ringless and screen based trading through fully automated system. Transactions are made through satellite communication network.

4.       Small companies with a paid up capital between Rs. 30Lakh and Rs. 25 Crore are eligible for listing of OTCEI. Companies listed on any other recognised stock exchange cannot be listed on OTCEI and vice-versa.

ROLE/OBJECTIVE/POWER OF SEBI IN MONITORING THE STOCK EXCHANGE

Meaning: -Stock exchange is a specific place where trading of the securities is arranged in an organised method. In simple words it is a place where shares, debentures and bonds (securities) are purchased and sold. The term securities include equity shares, preference shares, debentures, government bonds, etc. including mutual funds.

The government of India established the market watchdog i.e. Securities Exchange Board of India (SEBI) IN April 1988.

SEBI as securities Exchange Board of India became a statutory body under SEBI Act, 1992, and its Head Office located in Mumbai. At present SEBI have offices in Mumbai, Calcutta, New Delhi and Chennai. SEBI consists of the following members.

a.      A Chairman

b.      Two members from the Ministries of the Central Government. Dealing with Finance and Law

c.       Two other members to be appointed by the Central Government.

In order to regulate and promote capital market, SEBI performs following Role.

1.      Regulating the business in stock exchanges and may other securities market.

2.      Registering and regulating the working of stock brokers, share transfer agents, sub brokers, banker to an issue etc.

3.      Promoting and regulating self regulatory organisations.

4.      Prohibiting fraudulent and unfair trade practices relating to securities market.

5.      Registering and regulating the working of venture capital funds and collective investment schemes including mutual funds.

6.      Promoting Investors education and training of intermediaries of securities market.

7.      Prohibiting insider trading in securities.

8.      Conducting research and carrying out publications.

9.      Calling for information, form undertaking inspection, conducting inquiries and audits of stock exchanges and market intermediaries.

OBJECTIVES of SEBI  

The main objectives of SEBI are as under.

1.      To promote fair dealing by the issue of securities and to ensure a market place where (they) companies or institutions can raise funds at relatively low cost.

2.      To provide protection to the investors and protect their rights and interests so that there is a steady flow of savings into the market.

3.      To regulate and develop a code of conduct and fair practices by intermediaries like brokers etc. with a view to make them competitive and professional.

POWERS OF SEBI 

SEBI has given wide posers. Some of which are as follow –

1.      SEBI can ask stock exchange to maintain the prescribed documents and records.

2.      SEBI may ask stock exchange or any member to furnish information and explanation concerning its affairs.

3.      SEBI can approve and amend bye-laws of stock exchange.

4.      It may call periodical returns from stock exchange.

5.      SEBI can licence dealers in securities in some areas.

6.      It can ask a public company to list its shares.