nair sir b.c. ipcc(new) 20.3.2012
TRANSCRIPT
1
ESSENTIALSOF
COMMUNICATION
1
CHAPTER 13
2
Peter little
“Communication is the Process by which information is
transmitted between individuals and / or individuals, individuals
and / or organisations and / or organisations and organizations,
so that an understanding response results”.
2
3
JAMES MOONEY“Communication is the process of telling, listening and understanding.”
3
4
NEED FOR COMMUNICATION
• Increase in size of business firms.
• Multiple locations of business units.
• Technological Advancement [manage/ persuade to accept new Tech]
• Cut – throat communication [Advertising / Publicity]
• Trade Union movement [Healthy Relations]
• Human Relations
• Public Relations
• Personal Asset – for Speeches / Letters / Reports. • For Teachers / Lawyers / Judges / Receptionists / Managers. 4
5PROCESS OF COMMUNICATION
Channeland
Medium
Receiver sends
feedback
Sender has an idea
Receiver gets message
Receiver Decodes
Sender Encodes
Sender Transmits message
1
2
3
45
6
7
8
9
5
6Sender - Speaker, writer, actor, Teacher
Message - Something to be communicated
Encoding - Puts idea into words / symbols / Pictures / gestures
Channel & Medium - (Time Table) Mail Loudspeaker
Lecture Letter Speech
Receiver - To whom it is directed
Decoding - Receiver attaches meaning
Feedback - Responds or Reacts – Final outcomeManager - WorkStudents - Nodding head – EncouragesYawning - Discouraging 6
7OBJECTIVES OF COMMUNICATION
1. To Give / receive information
2. To provide advice
3. To Provide Counseling
4. To Issue orders / Instructions
5. To Impart Education / Training
Contd....... 7
86. To Give / Receive Suggestions
7. To persuade people
8. To Issue warnings / Notices :
8
10.To Motivate People - Praise / Appreciation
11. To improve discipline
9. To Improve Morale - Notices / Meetings / Bulletins to prevent rumours.
9
DIRECTIONS / MEANS OF COMMUNICATION
9
101. Formal communication
Downward Upward Cross or HorizontalCommunication Communication Diagonal Communication
Communication
Written Oral Reports Informal Informal meetings meetings
Instructions Instructions Suggestions Conferences Conferences
Policy Meetings Grievance Task teams Task teamsStatement Procedure
Procedures Telephone Complaint system
Quality circles Quality circles
Letters Speeches Group meetings Bulletin boards Bulletin boards
Handbooks Ombudsperson Company Lunchtime
newsletter MeetingsOrders Exit interview Committees Committee
meetings
10
11
Directions and Means
of Organisational Communication
11
12Orders
InstructionsDirectivesPolicies
ProceduresBudgets
CounselingLecturesAwards
ReportsSuggestionsGrievancesComplaintsProposalsRequests
Clarifications
Downward Communication Upward Communication
1 2
Inter - departmental memosInter - Personal dialoguesLine and staff parleys Telephone conversations Union - Management Meetings
3
Cross / Diagonal Communication
4
12
13INFORMAL COMMUNICATION
GRAPE VINE
13
14Seed / Direction TruthFeeling of Insecurity / Uncertainty Feeling of lack of security Formation of coterie (favoured group)
Types
1. Single chain2. Gossip Chain3. Probability Chain4. Cluster Chain
14
15
Transmission of Information along Grapevine[ KEITH DAVIS ] 15
16ADVANTAGES OF GRAPE VINE
Speedy – (Just between U & me)Valuable feed back – (Factory shifting)Support to Formal Channel (along with)Psychological Satisfaction (Employees closer to one another)
DEMERITS
Misunderstanding IncredibleDamage to organisationRumours / scandals
16
17Types / Directions / Dimensions of Communication
According to Direction
According toStructure
According toMedia
1. Downward
2. Upward
3. Horizontal4. Diagonal / Cross
1. Formal
2. Informal
1. Verbal
Oral Written
2. Non Verbal
17
18Verbal Communication
(Use of Words)
[ Speaking – Listening – Understanding ]
LISTENING
Types
1. Marginal Listening - (Speed – 1 : 3)
2. Discriminative Listening – (useful – useless)
3. Evaluative Listening – (Mental summary – agree – disagree)
4. Appreciative Listening – (Nod head)
5. Empathic Listening – (CEO to worker)
6. Fake Listening – (Pretending) 18
19Non Verbal Communication
(Other than words – Pictures – Drawings – Sound etc.)
Sign language
Bodylanguage
Paralanguage
Space Surroundings
and Time
ArtifactulCommu.
Haptics Silence
1 2 34
5
6 7
Visual Signor Aids
Buzzer – WM / LiftBell – School / CollegePush Button Bell – Mgr.Siren – Factory / Air RaidHooters – Local TrainWhistles – Rly engineAmbulance – Both
Audio sign
Poster – MoviesDrawing – ArchitectChart – Co. reportMap – TouristDiagram – productPhotographs – ToursCartoons – VodaphoneTraffic light - Red / yellow / greenVIP vehicles – Red lightAmbulance – Blue Light 19
20Non Verbal Communication Contd.
Sign language
Bodylanguage
Paralanguage
Space Surroundings
and Time
Artifactul Commu.
Haptics Silence1 2 3
45
6
Message conveyed by body movements are called body language. They are used or interlinked with speaking or talking to express attitudes / moods / status / anger / fear / sympathy / pity / love/ etc.
HEAD – straight – honour – self respect – confidence Down – guilt – apology – modesty – boring
FACE – Index of mind / forehead / lips / cheek muscles
EYES – (Fixed eyes – concentration) (Raised eyes surprise / fear)
(Smiling eyes – happiness) (Long fixed gaze – interest) (Evasive eyes – lack of interest) (glowing face – thrill of happiness – friend )
7
POSTURE – Sitting erect / confidence – Bending – respect love Bending sideways – recollecting
GESTURES – Movement Arms / legs / hands / heads
OrKinesics
20
21
Word StressDid u go to your college today ?Have u seen thisMy new book ?Have u read this New syllabus
4
Non Verbal Communication Contd.
Sign Language
Body Language
Space Surroundings
and Time
Artifactul Communication
Para LanguageHaptics Silence
Like language – To be used for conveying messages more effectively.
1
Speaking Speed
Easy parts fastDifficult - slowly
Volume VariationLoudness speechSize of audience(20/75/100/150/300 students)
Pitch variationHigh level MangersLow level low pitchAngry person – high Cool - Low
2
3
PausePause at right momentTo emphasize the upcoming subject or gain attention
Non fluenciesSpace filters U- see, eh, ya,Oh, what u call it you know, etc.
5
6
21
22Non Verbal Communication Contd.
Sign language
Bodylanguage
Paralanguage
SpaceSurroundings
and Time
Artifactul Commu.
Haptics Silence1 2 3
45
6 7
Intimate – 18 inches – family members / close friends
Personal – 18 inch to 4 ft. colleagues / visitorsSocial – 4 ft to 12 ft – Formal / official bus communication
Public – more than 12 ft. Public address announcements
1
Speaker
SPACEOR
PROXIMICS
22
23Non Verbal Communication(Other than words – Pictures – Drawings – Sound etc.)
Sign language
Bodylanguage
Paralanguage
SpaceSurroundings
and Time
Artifactul Commu.
Haptics Silence1 2 3
45
6 7Factors that form part of one’s personality
ClothingMake-upHairstyle
Polished shoesCombed hair
PenCell-phone
Watch(They reveal one’s age, educational, social and Eco. Status and create
impressions. They help to project a clean image)
Communication through touch
Touch reveals our perceptions / needs / attitudes
Depends upon culture highly sensitive
1.Mothers touch to the child (Solace)
2 .Touch – assures friend are assurance
3 .Pat – Don’t worry – take easy
4 .Cricket captain – Appreciation
5 .Hands together – welcome6 .With Bowed head fed –up7 .Holding hand – friendship
Artifactul Haptics Silence
Silence is more eloquent than words
Charlie chaplins
Silent movies are more effective than modern films
Silence – anger
Silence – Disapproval
Silence – Approval
Silence – Pause Emphasis
Silence – respect
Silence – fear
23
24How can a message be conveyed more effectively through voice? (5 marks)
Answer :Voice is the most important element of para language. It plays an important role in communication. It is the first tool of effective communication. It conveys the message in a very effective way. A message can be conveyed more effectively through voice by considering the following points:
1. Variation of pitch : Pitch means quality of sound. In order to break the monotony of the speech, variation of pitch is essential. Variation of pitch is also necessary to keep ,he listener interested in the speech which is the very essence of communication.
2. Variation of volume : Variation of volume puts life into one's speech. Variation of volume should be done according to the size of audience. The volume should be such which makes the speaker audible.
253. Speed of speaking :
Different part of the message should be spoken at different speed. Generally the part easily understandable can be spoken at a high speed while parts difficult to understand should be spoken in a slow speed. The speed thus should be such which ensures fluency.
4. Pause : Pause is essential. One cannot go on speaking continuously. But a pause should be used effectively. It should be used at right time which not only give the speaker a time to breathe but also gains the listener's attention.
5. Non-Fluencies : Non-fluencies 'up' am, you know etc. if used carefully and sparingly add to the fluency of the speaker, giving him time to breathe and making the listener more.
26"To Communicate the written word has several advantages over the spoken word." Explain. (5 marks)
Written words has several added advantages over the spoken words :(i) While written words provides a permanent record for future reference
and serves as a good guide for decision making and planning in future, spoken words on the other hand may be forgotten over a period of time.
(ii) Written messages can be read and re-read again and again. Thus it is likely to be understood better. However oral messages are more likely to be misunderstood. The speaker due to his poor vocal expressions, may not be able to make himself clear and the listener may also be in- attentive.
(iii) People are more precise and clear cut when they write rather when they speak. This is because written communication is normally penned down after proper planning. While in oral communication very often, the exact message to be conveyed is lost in a mass of words.
(iv) Oral messages often gets distorted. This is more so in case of lengthy messages which when communicated through various level of hierarchy. Distortation of messages usually does not "take place in case where messages are conveyed through written words.
27State reasons for selecting the oral mode of communication instead of the written mode of communication. (4 marks)
Answer :Oral communication means communication through words spoken i.e. by speech :-- In oral communication, both the parties to the process, i.e. sender and receiver, exchange their ideas through oral words either in face to face communication or through any mechanical or electrical device, such as telephone etc. In this system person can exchange their feelings fully and clarification regarding any doubt or ambiguity may be sought. Oral communication is preferred by rank and file employees as well as supervisors and managers, as they enjoy the opportunity to ask questions and to participate.Advantages :1. Economical :
Oral communication is relatively less expensive. It saves the money spent on stationery in an organisation.
2. Time saver : Oral communication is fast. It saves the time involved in writing the message.
283. Flexible :
Oral communication is very flexible in sense it provides an opportunity to the speaker to correct himself and make himself clear by changing his voice, pitch, tone etc.
4. Quick response : Oral communication is also helpful in getting quicker response from the receiver. The speaker gets immediate response from the receiver. It thus provides immediate feedback to both sender and receiver.
5. Personal touch : Oral communication is personal in nature. It is this nature that brings superiors and subordinates closer. It is also an effective tool of persuasion.
6. Maintains secrecy : Oral communication has an added advantage of maintaining secrecy. Oral messages can be more easily kept confidential than written messages.
7. Group communication : Oral communication is an effective tool for communicating with the groups at large. Group reactions can also be interoperated immediately to arrive at reasonable conclusions.
29
29
Oral communication means communication through words spoken i.e. by speech :—
In oral communication, both the parties to the process, i.e. sender and receiver, exchange their ideas through oral words either in face to face communication or through any mechanical or electrical device, such as telephone etc. In this system person can exchange their feelings fully and clarification regarding any doubt or ambiguity may be sought. Oral communication is preferred by rank and file employees as well as supervisors and managers, as they enjoy the opportunity to ask questions and to participate.
What is Oral Communication?
30
30
Advantages :1. Economical : Oral communication is relatively less expensive.
It saves the money spent on stationery in an organisation.
2. Time saver : Oral communication is fast. It saves the time involved in writing the message.
3. Flexible : Oral communication is very flexible in sense it provides an opportunity to the speaker to correct himself and make himself clear by changing his voice, pitch, tone etc.
4. Quick response : Oral communication is also helpful in getting quicker response from the receiver. The speaker gets immediate response from the receiver. It thus provides immediate feedback to both sender and receiver.
31
31
5. Personal touch : Oral communication is personal in nature. It is this nature that brings superiors and subordinates closer. It is also an effective tool of persuasion.
6. Maintains secrecy : Oral communication has an added advantage of maintaining secrecy. Oral messages can be more easily kept confidential than written messages.
7. Group communication : Oral communication is an effective tool for communicating with the groups at large. Group reactions can also be interpreted immediately to arrive at reasonable conclusions.
32
32
Disadvantages/Limitations1. Time Consuming : Oral communication may not be time saver
always. Many a times it is seen that meetings continue for a long time without arriving at any satisfactory conclusion.
2. Poor retention : Oral communication is more likely to be forgotten. The listener cannot always retain oral messages in his memory for long. Sometimes even the speaker may not remember what he actually said.
3. Not suitable for lengthy messages : Very often oral communication gets distorted. This is more so in case of lengthy messages when communicated through various level of hierarchy.
4. No record : No permanent record is kept in case of oral communication. In the absence of record, oral massages have no legal validity.
33
33
5. Misunderstood : In oral communication, much depends upon the tone, pitch, voice etc. The speaker, due to his poor vocal expression. may not be able to make himself clear and the listener may also be in attentive. Thus the message may be misunderstocd.
6. Not precise : Oral communication is not precise and to the point. People are more precise when they write rather when they speak. Very often, the exact message to be conveyed is lost in a mass of words.
34
34
Advantages :1. Permanent Record : Written communication provides a permanent
record for future reference and serves as a good guide for decision making and planning in future.
2. Precise and Accurate : The writer tries to organise his ideas logically before penning them down. As a result written communication tends to be more accurate, precise and reliable.
3. Legal evidence : Written messages provide a permanent record and as such are used as legal evidence in a court of law. Written records are more reliable and acceptable as documentary proof.
What are the Advantages and Disadvantages of Written Communication?
35
35
4. Wide coverage : Written communication has the widest possible coverage. It is perhaps the only means of communication when the sender and the receiver are separated by long distances.
5. Easy to Understand : Written messages can be read and re-read again and again. Thus it is likely to be understood better.
6. Suitable for lengthy messages : Lengthy messages loose their authenticity in oral communication. Written communication is thus very suitable for transmitting lengthy messages.
7. Aids control : Written communication encourages deliberation, permits editing and review, helps to prevent distortion and consequent mis-understandings.
36
36
Disadvantages/Limitations : 1. Time consuming : Written communication is not suitable when the
message is to be sent immediately. It is time consuming event which requires time in not only sending it but also in putting the message in writing.
2. Rigid : Written communication is rigid and lacks flexibility. The doubts and queries cannot be clarified immediately.
3. Costly : Written communication is a bit more expensive than oral communication. It costs a lot in terms of stationery, postage and typing costs.
4. Lack of secrecy : It is difficult to maintain secrecy in written communication.
37
37
5. Delayed feedback : Written communication is mostly handicapped by its inability to get immediate feedback. The sender of the message is not able to judge the response of the receiver from his facial expression.
6. Increases the workload : Written communication creates mountains of paper cluttered around the premises of the organisation. The staff has a tough time in managing it very often valuable papers are lost. Therefore staff/managers have to be extra careful about the papers.
38
38
Advantages :1. Para language aids the verbal communication. Verbal communication is incomplete without para- language.2. One can very easily judge the speakers background both educational and cultural from the way he speaks.3. Para language also indicates the speakers position in the hierarchical structure of the organisation.4. Para language is also helpful in dealing with a particular person.5. Para language is not rigid and one can improve it by observing and
listening the good speakers.
What are the Advantages and Disadvantages of Para Language?
39
39
Disadvantages1. Para language cannot be fully relied upon as it is only a like
language.2. Listener has to be open minded otherwise the para language may
prejudice him.3. Para language can thus be misleading or misguiding.4. It requires extra care to get the exact content of the language.5. Due to speakers belonging to different speech community it is
difficult to achieve uniformity.
40
40
Time Language is another type of non verbal communication. Under it people communicate with each other in terms of time by showing them in a sophisticated way, the worth of time. Time pervades our thinking and dominates our communication. All communication is meant to be suitably timed. Time management is now one of the most important part of overall management.
What is Time Language?
41State the major limitations of Paralanguage.(3 marks)
Answer :Limitation of para language1. Para language cannot be fully relied upon as it is only a like
language.2. Listener has to be open minded otherwise the para language may
prejudice him.3. Para language can thus be misleading or misguiding.4. It requires extra care to get the exact content of the language.5. Due to speakers belonging to different speech community it is
difficult to achieve uniformity
42"Communication in an organization is a multidirectional". Discuss the statement by explaining briefly the different types of channels of communication based on directions of communication.
(7 marks)Answer :Yes, it is true that communication in an organisation is multidirectional or multidimensional. There a various directions in which it flows. It usually takes the form of the pyramid. On the basis of direction, communication may be of four types :—
1. Downward Communication : Communication that flows from the top level of the organisation to the bottom level along with the scalar chain are known as downward communication. Example for such type of communication are orders, instructions, rules, policies, programmes and directives etc. It specifies the extent of the subordinates authority and their responsibility.
432. Upward Communication : Upward communication is just the opposite of
downward communication. In this communication system, the message is transmitted from the bottom of the organisation upwards to the top of the organisation through the middle managers along with the line. Usually this includes workers grievances, suggestions and reactions. This communication system was not appreciated by the superiors. But it has assured importance in modern times and is considered to be a main source of motivating employees.
3. Horizontal Communication : The flow of information between departments or people of equal level in an organisational structure may be termed as horizontal or lateral communication. The two departments may be under the same superior or may have different heads. Such communication may be written or oral. The main object of lateral communication is to co-ordinate the efforts of different departments or persons.
44
44
4. Diagonal Communication : Diagonal Communication is between people who are neither in the same department nor on the same level of organisational structure. It cuts across departmental lines. It generally takes place when members cannot communicate effectively through other channels.
These upward, downward, horizontal or diagonal communication may be oral, written, formal, informal or even gestural.
45BARRIERS TO COMMUNICATION1. NOISE
Any barrier Physical noise/ machine / aircraft / TV Poor lighting / Poor telephone connections / microphone / adverse weather
2. Lack of planning – Lack of preparing
3. Semantic Barrier – Systematic study of meaning / sender and receiver attach diff. meaning
“Take it” “Burn it”
4. Cultural Barriers - a. Welcomingb. Surname / first namec. ya / yes sird. Mr. Mrs.e. North America
5. Wrong Assumptions. - Visit to a factory 45
466. Emotions – Anger
UpsetSadHappyComing late
7. Filtering – Manipulate – to the favour receiver
8. Information overload SBI CARDReader’s DigestTimes of India insertions
46
9. Poor Retention People forget messages reaching them at each level 30% of message is lost
10. Poor Listening
11. Goal Conflict Dept & sub dept / MT Com vs MT Science
12. Offensive style use persuasive style
4713. Long chain of Command Army general to soldier
14. Closed mind
47
48What are the socio-psychological barriers to communication? (5 marks)
Answer :Communication to be effective should be free of barriers which obstruct the free flow of communication. Social and psychological factors are the most difficult barriers to communication. These consist of the following:
1. Attitude and opinions : The personal attitude and opinions of the receiver often interfere with communication. If the message is consistent with the receiver's attitude and opinion they receive it favourably. When the message is inconsistent with the receivers attitude and opinions, they are not likely to be received favourably.
2. Emotions : Emotions like fear. anger, worry, nervousness block the mind. It also blurs the thinking power and one fails to organise the message properly. When the message is not organised properly it cannot be conveyed effectively.
493. Status difference :
Status consciousness is a very serious barrier. Subordinates fail to communicate to with their superiors because either they are too conscious of their low status or too afraid of being snubbed off. Similarly many executives keep distance from their subordinates thinking it too degrading to consult them.
4. In attention : In attention arises due to mental preoccupations or distractions. These causes barriers to communication.
5. Closed mind : A person with closed mind is not willing to listen and is not prepared to reconsider his opinion. As such it is very difficult to communicate with such person.
6. Distrust : Distrust after fails to deliver the right message. When the receiver is biased or hostile towards the sender the message is either ignored or misinterpreted.
507. Poor retention :
Successive transmission of the message are decreasingly accurate. In the process of transmission a part of the message is lost at every stage. This is because of poor retention on the part of the receiver. Thus incomplete message is conveyed.
8. Premature evaluation : Premature evaluation prevents effective communication. Some people form a judgement even before receiving the complete message. And once judgement is already formed the mind is closed to the rest of the message.
5190% of the problems in any organisation are caused by ineffective communication. How ? (Give any five reasons) (5 marks)
Answer :It is very true that 90% of the problems in any organisation are caused by ineffective communication. It is evident from the following:1. Unclear message :
When the sender is not sure of what he wants to communicate, why he wants to do it, to whom he wants to communicate, his message can never be clear. This is more because a clear message can never be sent from unclear mind.. An unclear massage is likely to be decoded in different ways giving different meanings.
2. Incomplete message : Incomplete messages keep the receiver guessing. This creates misunderstanding and often delays action.
3. Incorrect message : When incorrect message is communicated, wrong decisions are taken in light of incorrect message.
524. Absence of attention :
Both the receiver and sender has to pay their full attention. Lack of attention leads to distortion of message giving out a different meaning.
5. Noise : Ineffective communication also results from noise. Noise acts as a major barrier to communication. Noise distracts the persons and incorrect message is conveyed.
53PARTS OF BUSINESS LETTER
4.
Head Address
Reference No.
Date
Inside address
Attention line5.
3
2
1
53
54
9.
Salutation
Subject / Caption line
Body
Complimentary close
Signature10.
8.
7.
6.
54
55
14.
Enclosure
Post script
Initials
Carbon copy noting
13
12
11
55
56LAYOUT OF LETTERS
Full Block Modified Block Indented form Hanging form
(All left) USA
(Date)Right
(UK / India)
____________
____
____
____________________________________________________________________________________________________________________________
____________________________________________________________________________________
____ _____ ____________
____
____
____________________________________________________________________________________________________________________________
____________________________________________________________________________________
____ _____ ________
___ _____________ _____________
________________________________________________________________________________________________________________________________________
____________________________________________________________________________ ________ ________ 56
57CHAPTER 14INTERPERSONAL COMMUNICATION
It is the passive communication skill which makespeople around you feel good
1.
It conveys respect for other person2.
It is important during a conflict
It focuses on solutions for solving problem
3.
4.
57
58
It demonstrates equality
It reflects communicators open mindedness
Communicator shows concern for the other party
It does not impose solutions5.
It reflects honesty and integrity6.
7.
8.
9.
58
59Principles Interpersonal Communication
Few participants are involved
Close physical proximity
Immediate feed-back
It is irreversible -(Bullet/words out of month)
It is contextual
1.
2.3.4.5.
Relation Context
(Reaction to each other)
Situational Context
Class roomBoard room
Environmental Context
Furniture Locations
TemperatureTime
Season
Cultural Context
RudeMild
PolitenessTrustworthiness
59
60Functions of Interpersonal Communication
Gain Information 1.
Build understanding2.
Establish identity3.
about othersHow they thinkWe know them better
Content message – meaningRelationshipmessage – how it is send
Image we present toOthersBased on our relationship
Interpersonal Needs
People feel to be included in group – groups provide outlet to express. Some people don’t want to be leaders. For them groups provide control over the aspects of their lives.
4.
60
61ACTIVE LISTENING
Hearing and Listening1.
a. Sensing
b. Filtering
c. Remembering
61
62Guidelines for active listening
Stop Talking
Put the talker at ease
Show the talker, you want to listen
Remove distraction
Empathize
Be patient
Hold your Temper
Go easy on arguments / criticisms
Show an open mind
Ask questions
1.2.3.4.5.6.7.8.9.10. 62
63CRITICAL THINKING – (CT)
1. Questioning every aspect of our thinking process
2. It is known as Socratic questioning
3. Critical thinking is the skilful use of
1. Experience
2. Information
3. Observation
4. Reasoning
USE OF
FOR GUIDING
1. Decisions
2. Actions
3. Beliefs
63
64
64
The use of Experience , Information , Observation, and Reasoning for Guiding Decisions, Actions and Beliefs.
What is Critical Thinking ?
654. C.T. means questioning Every step in your thinking process
a. Have you tested your assumptions ?
b. Is your reasoning sound ?
c. Are you sure that your judgment is unbiased?
d. Is the thinking process logical ?
e. Is the thinking process complete ?
5. C.T. helps you take good judgements / ethics
6. C.T. leads to success and wisdom
65
such as
66For C.T., we need to develop skills toa. Analyze cause and effect
b. Classify sequence
c. Compare and contrast
d. Infer (external logic to solutions)
e. E valuate
f. Observe
g. Predict
h. Rationalize
i. Prioritize
j. Summarize 66
67QUALITIES OF A CRITICAL THINKER
OpenMinded
Wellinformed
ContextualExperimental True conclusions
(Be opento others) (all fronts) (“what if”) (Relevant) (fact)
67
68
68
EMOTIONAL INTELLIGENCE (E.I.)
1. Everyday emotions affect our lives influence and our decisions
2. E.I. refers to the capacity to recognize ones own feelings vis-à-vis those of others
3. E.I. helps to motivate our self and manage the emotions in oneself and manage as well as in our relationships.
4. E.I. or E.Q. is different from I.Q.
5. I.Q. measures cognitive capabilities which E.Q. measures non cognitive capabilities.
6. E.Q. is complimentary to academic intelligence
69
E.Q. protect our health from Toxic emotions
May people with high IQ, but lower EQ end up working for people who have lower IQ but higher EQ.
Future belongs to those who have relationship skills
Everyone acquires a set of emotions by birth. E.g. Self awareness / Self Discipline / Sympathy But they can be structured and strengthened through out our adulthood.
Therefore, all leading organizations put lot of stress on nurturing and sharpening the EQ of their people.
7.
8.
9.
10.
11.
69
70COMPETENCIES OF EQ
Personal Competence Social Competence
Self awareness Social awareness Relationshipmanagement
70
71CHAPTER 15GROUP DYNAMICS
1. Group is a collection of people
2. Not a Random collection
3. Different from crowd
GROUP DYNAMICS
Dynamic is a Greek word which means “force”. So group Dynamics should mean “forces” operating within a group such as
1. Internal nature of the group
2. Formation of those groups
3. Structure & processes
4. The way group affects individuals
5. The way group affects other groups 71
72In other words, “Group Dynamic is continuously changing and adjusting relationships among group members”.Like individuals, groups also have their personality.
Characteristics of group personality :
1. Spirit of conformity
2. Respect for group values
3. Resistance to change
4. Group prejudice
5. Collective power
72
73
5. The overwhelming desire of the members to arrive at unanimity leads to “Group think”.
6. Due to group think, group members fail to explore alternative solutions.
7. This is because the group wants to present a “unified or cohesive” image to outsiders.
GROUPTHINK
1. It is the weakness of “Decision Making” of the group
2. Group members look for consensus and conformity
3. When it is extended / stretched too for, it leads to “group think”.
4. Free ideas become causality.
73
74HOW TO REDUCE GROUPTHINK?
Open discussions
Divide into sub
groups
Group members discuss with
trusted outsiders
Conduct a special
meetings for misgivings
seemed guessing etc.
are aired
Develop diverse ideas
opinions & arguments
74
75
75
NEGOTIATIONS / BARGAINING
Win - loss
Lose - lose
Lose - win
Lose - lose
Compromise Win - win
76PROCESS / STEPS FOR NEGOTIATIONStep 1 PREPARING Expect unforeseen situations
Step 2 ARGUING Build a case based on logic & Strength
Step 3 SIGNALLING Aware of dead lock
Step 4 PROPOSING Propose solutions
Step 5 PACKAGING Consider all proposals
Step 6 BARGAINING what we can exchange for consensus
Step 7 CLOSING make final decision
Step 8 AGREEING Seal it & Sign
Good bye
Shake handsBoth side happy
76
77CHAPTER 16
1. Meaning of “ethos” & ethics
2. In the field of communication ethics deal with “Right &wrong”, “Fair & unfair” in communication
3. Ethical communication includes :
(a) All relevant information
(b) True in all respect
(c) Accuracy & sincerity
(d) Not hiding negative news
ETHICS IN COMMUNICATION
77
78
(e) Portray graphic data fairly
(f) Honest with employees, clients, suppliers, shareholders and public
(g) Acting in good faith
(h) Uphold organizational values
(i) Part of social Responsibility
78
79ETHICAL DILEMMAS IN COMMUNICATION
1. Secrecy :
When & (a) Honorable and Acceptable
When not? (b) Dishonorable and inacceptable
2. Needless whistle – blowing
An employee goes public with information about corporate abuses / negligence is known as whistle – blower
Community has a right to know about corporate
– practices
Corporations have a legitimate right to expect employee
loyalty
Greed, jealousy & Revenge motivate – some whistle -
blowers
79
80
5. Lying
6. Euphemisms use of a less offensive expression
“Died”“Passed away”
“Bribe”“Consideration Fee”
“Stealing”“Borrowing
”
3. Leaks (Anonymous whistle – blowing) (good + Bad)
4. Rumours / gossips (Events / persons)
(Dilemma – good / bad)
80
81
Guidelines to handle ethical Dilemma is communication
Legal consideration Moral Consideration
If there is a law, thereis no dilemma
1. Maintain candour
(Truth, Honest, Trust)
2. Accuracy
3. Avoid deception
4. Keep confidence
5. Timeliness
6. Confront in ethical behavior
81
82CHAPTER 17COMMUNICATING CORPORATE CULTURE / CHANGE
What is culture?
Culture is the way we live & think. It is the collection of attitudes, beliefs and values that sustain and direct our lives our perception is shaped by our culture.
What is corporate culture?Like individuals, corporates also have culture.
“It is the personality of an organization”
Values, beliefs and corporate ethics determine corporate culture. The appropriateness of all actions are governed by corporate culture. 82
83ELEMENTS OF CORPORATE CULTURE
1. The Paradigm - Vision / Mission / Values
2. Origination Structure
3. Power structure
4. Control system
5. Symbols
6. Rituals & Routines
7. Stories & Myths (Founders)
- (DM centers)
- Co. logo / symbols
“We also make steel”TATA Steel Ltd.
83
84Means change in
Mission New Technology Merger collaboration TQM BPR 6 sigmas
Loss atpersonal level
From astatus quo
Uncertaintyprinciple
SecurityFriends
ContactsMoney
FreedomPride
ResponsibilityAuthority
Good workingConditions / status
why change?Status quo finechange more
harmfulobjectionable
way of changenegative attitudetowards change
Challenge to authorityMore confusion
what to expectPeople don’t know
Organizational Change :
Why people resist to change
84
85REASONS FOR ACCEPTING CHANGE
Personal Gain Other factors
More securityMore MoneyMore AuthorityMore StatusMore PrideBetter wo : ConditionsSelf-satisfactionLess time & effort
New challengeRespect the sourceLiked how it wascommunicatedReduce BoredownBetter futureperception thatchange is needed
COMMUNICATION AND CHANGE – APPROACHES
(How to overcome resistance?)
Communication InvolvementEducation 85
86How to change?
design a communication system for change
What tocommunicate ?
To whom to communicate ?
When tocommunicate ?
How tocommunicate ?
Maximum information of
grapevine exists confuse convey your
own feelings / concerns /
employees feel that you are a part of
them
To all who are directly & indirectly affected & involved No one should be
left out
As early as possible – Before, during and after implementation
of change
Oral
Written
1. Quick feedback2. Cool down emotions3. Express drafts
4. Message is confidential5. Message is personal6. Personalities needed7. Discussion is needed
1. Record is needed2. Message is complex
3. Requires repeated reading
4. Copies to be circulated
5. Stepwise procedure is required 86
87INNOVATION
Doing new things or existing things in different ways.1.
Different from invention – identifying something unknown isinvention doing new things for different ways is innovation.
2.
Barriers to innovation :3.
(a) Highly structured organization
(b) Group thinking
(c) Authorization style
(d) Too many rules & regulations
(e) Lack of Research
(f) Short Term focus
(g) Over consultation
87
88HOW TO BUILD AN INNOVATIVE ORGANIZATION?
1. Acceptability
2. Reward – Recognition
3. Boost innovation
4. Sound information system
5. Faster informal communication
6. Bureaucracy Vs. Chaos 88
89
CHAPTER 18 (1)COMMUNICATION IN
BUSINESS ENVIORNMENT
(Drafting of Documents)
89
90
Draft a Specimen of Notice of a Board Meeting along with Agenda of the First Board Meeting.
90
91Specimen of Notice of Board MeetingNotice of the Board Meeting
ABC Ltd.(Regd. Office __________)
To, (Director)
Dear Sir / Madam,
This is to inform you that the first meeting of the Board of directors will be held at the Registered Office of the company on 5th September, 2011 at 3.00 p.m. to transact the business as per the enclosed agenda.
You are requested to please attend the meeting.
Yours faithfully,By order of the Board,
Secretary.
Encl. – AgendaPlace ………………..Date ………………… 91
92Agenda of First Board Meeting(Specimen)
Agenda
1. To elect the chairman of the meeting.
2. To produce the Certificate of Incorporation, the Memorandum and the Articles of Association.
3. To Appoint Managing Director.
4. To Appoint Secretary.
5. To Appoint Auditors.
6. To Appoint Bankers and to open Bank A/c.
7.To adopt company’s seal.
8. To fix quorum for the Board’s meeting.
9. To discuss any other business with the permission of the Chair. 92
93Draft an Agenda of a Subsequent Board Meeting of Board of Directors OR Routine BOD Meeting
Ans. Agenda of the Subsequent Board Meeting
Agenda
1.To read and approve the minutes of the last Board meeting.
2.To consider application for transfer of shares.
3.To consider letter of resignation of the Manager of Kanpur Branch.
4.To consider trading returns for the quarter ended ….. 20 …...
5.To consider any other business with the permission of the Chair.
93
94
MT Educare Ltd.Regd. Office D.D. Road Mulund Mumbai 400 080
Draft Notice Convening Statutory Meeting
To, The Members
Notice Convening Statutory Meeting U/S 165
Notice is hereby given that the Statutory Meeting of the members of the company will be held on Monday, the 25th of November 2011 at 10 am at Kalidas Hall, Mulund, Mumbai 400080.
94
95Agenda
To consider and pass the Statutory Report.
To discuss the progress made by the Company since in corporation.
To produce the list of Members U/s 165(6)
To discuss any other matter with the permission of the chair.
By order of the board,
Sd/-
Secretary
Place : Mumbai
Dated : 1st November 2011
95
96NOTES
A member entitled to attend the meeting is also entitled to appoint a proxy to attend a vote on his / her behalf.
Proxy may or may not be a member.
Proxy duly stamped and signed should reach the Register Office of the Company at least 48 hours before the time of the meeting.
96
97Notice of extra ordinary General Meeting
Notes : Other contents, remaining the same, only agenda is drafted here.
Agenda
1. To consider and pass the special resolution for alteration of Articles of Association dealing with quorum for Board Meeting.
2. To change the name of the Company from “Mahesh Tutorials Ltd ” to MTEducare Ltd.
3. To discuss matters relating to the expansion activities of the Company and to finalise the issue of GDR / ADR for financing expansion.
4. To discuss any other matter with the permission of the chair.
NOTES
1.About Proxy
2.Explanatory statements for items 1, 2 and 3 U/s 173 97
98
CHAPTER 18 (2)
SPECIMEN MINUTES OF VARIOUS BOARD MEETINGS
98
991. Specimen minutes of the first Board meeting (Tabular from)
JAIPUR INTERNATIONAL TRADERS LIMITED
Minutes
Of the first meeting of the Board of Directors held on Wednesday, the 13th July 2011, at 3 p.m. at the Registered Office the Company at 20, Kalbadevi Road, Mumbai.
Present :
Shri H.S. Rawat
Shri M.K. Daftari
Shri T. K. Yadav
Shri M.S. Solani
M/s H.L. Desai & Compnay99
Shri H.S. Rawat (In the chair)
(Director)
(Director)
(Secretary)
Auditors
100No. of
Minutes Subject of Minutes Details of Minutes
1. Chairman of Meeting Shri H.S. Rawat was unanimously elected Chairman of the meeting.
2. Chairman of Company Resolved : “That Shri H.S. Rawat be, and he ishereby appointed Chairman of the Board and of the Company.”
3. Incorporation and appointment of Incorporation dated
Shri Sanjay Jain, the Solicitor of the Company, produced Certificate of 30th June 19.., and reported that all the directors present had signed usual acceptance of office.
100
101No. of
Minutes Subject of Minutes Details of Minutes
4. Appointment of Secretary
Resolved : “That Shri M.S. Solani, be and he is hereby appointed Secretary of the Company at a salary of Rs.8,500 per month, the appointment to be terminable on three months’ notice on either, side and that an agreement embodying these and other terms applicable to Company’s officers be drawn up accordingly.
5. Appointment of Solicitors
Resolved : “That Messrs. Sanjay and Company, Solicitors, Kalbadevi Road, Mumbai, be and they are hereby appointed Solicitors of the Company.
6. Appointment of Bankers
Resolved : “That the Punjab National Bank, Kalbadevi Road, Mumbai, branch, be and they are hereby appointed bankers to the Company and that the Secretary be and he is hereby authorised to open an account with the said bank.”
101
102No. of
Minutes Subject of Minutes Details of Minutes
7. Seal Shri Surinder Kumar Khanna, Secretary, produced designs and estimates for the common seal of the Company.
8. Next meeting The next meeting of the board was fixed to be held on Wednesday, the 27th July, 19.. at 4 p.m.
Place : MumbaiDated : July 2011.
Sd/- Sd/- M.S. Solani H.S. Rawat
Secretary Chairman
102
1032. Minutes of a subsequent Board meeting (Tabular form)
REDDY AND JAGDALE LIMITEDMinutes
Of the Board Meeting held at the registered office of the Company at 12, Bazar Road, Nasik on 20th October 2011, at 4 p.m.
Present :Shri. K.D. Reddy (in the Chair)
Shri. M.C. Reddy
Shri. P.L. Jagdale
Shri. B.K. Reddy
In attendance:
Shri. S. K. Das Gupta, Secretary
103
104No. of Minutes Subject of Minutes Details of Minutes
21. Minutes of the previousMeeting
The minutes of the previous Board meeting held on October 15, 19 .. were read out by the Secretary and confirmed by the meeting.
22. Share transfers Resolved : “That a committees consisting of Shri P.L. Jagdale and Shri B.K. Reddy, directors be and is hereby appointed for the purpose of share transfers and transmissions in terms of the Articles of Association of the Company.
23. Export of Indian Handicrafts
Resolved : “That a Committee consisting of Shri M.C. Reddy and Shri P.L. Jagdale, Directors and Shri S.K. Das Gupta, Secretary be and is hereby appointed for exporting Indian handicrafts to the States and other western Countries.”
25. Next meeting The next meeting of the Board was fixed for 27th October 19.. at 3 p.m. at the Registered office of the Company
Place : MumbaiDated : October 2011
Sd/- Sd/-S. K. Das Gupta K. D. Reddy Secretary Chairman
104
1053. Specimen minutes of the statutory meeting
S.M. MAHADEVAN AND COMPANY LIMITEDRegistered Office ---
Minutes of the statutory meeting of the Company held at the Registered office of the Company on Monday, the 11th April, 19.. at 2 p.m.
Present :
Shri M.K. Dastoor
Shri G.K. Munim
Shri S.M. Patel
Shri P.L. Sampat
And 40 shareholders as per list attached 105
(in the Chair)
(Director)
(Director)
(Director)
Prof. K.S. Nair (Secretary)
M/s Shah & Company (Chartered Accountants)
106In attendance :
Shri R.S. Daruwala, Secretary
Shri M.A. Hashmat, Solicitor
1. Notice of the meeting
The Secretary read the Notice dated 10th March 19.. convening the meeting.
2. Chairman’s Remarks
The Chairman reported that the meeting was convened in compliance with Section 165 of the Companies Act, 1956.
3. List of Shareholders
The Chairman told the members that a list of the shareholders had been put on the notice board of the Company and was open to inspection during the course of the meeting.
106
1074. Statutory report and Chairman’s address
The Statutory report was then taken up. The Chairman reviewed the activities of the Company since its incorporation and referred to its financial position and business prospects. He also invited discussion and questions on the Report which were satisfactorily answered.
5. Adoption of Report
It was when moved that the Statutory Report as presented be approved. Accordingly, it was unanimouslyResolved : “That the Statutory Report be and is hereby approved.”
6. Vote of Thanks
K.S. Nair, the secretary of the company proposed a vote of thanks to the chair and the meeting terminated.
Sd/- Sd/-Place : Mumbai R.S. Daruwala M.K. DastoorDated : 19th April 2011 Secretary Chairman
107
1084.Specimen minutes of an Annual General Meeting.
BANGLORE CHEMICALS LIMITED Minutes
Of the Fourteenth Annual general Meeting of the Company held at the Registered Office on Saturday, the 15th October 19.. at 4 p.m.
Present :
Shri Ajit Haldar
Shri Topas Majumdar
Shri G.M. Thakur
Shri Vinayak Deshpande
(Director)
Shri Mohan Chandan
108
(in the Chair)
(Director)
(Director)(Director)
109In attendance :
Shri Rakesh Dayal, Secretary
Shri A.K. Pradhan, Solicitor
And 125 shareholders, whose names are given in the attached list.
1. Notice of the meeting and the Auditors report
The Secretary read the notice convening the meeting and the Report of the Auditors of the accounts.
2. Directors Report and Accounts
The Chairman suggested that the Directors’ report and the Accounts issued therewith be taken as read. In his address, he referred to the all round progress made by the Company. He outlined the diversification projects of the Company and expressed the hope that the Company would continue to de satisfactory business during the period to follow. He moved
“That the Directors’ report and Accounts as audited by the Company Auditors now before the Meeting be and are hereby approved and adopted.”
109
1103. Dividend
The following resolution was passed “That a dividend of Rs. 15 per equity share, subjected to income tax as recommended by the Directors be and is hereby approved and the said dividend be paid to the Shareholders whose names stood on the books of the Company as on 6th December, 19..
4. Election of Directors
Resolved : “That Shri Vinayak Deshpande, the retiring director of the Company being eligible for re-election be and is hereby elected director of the Company.”This resolution was unanimously adopted. Resolved: “That Shri M.S. Lamba, the retiring director of the Company, being eligible for re-election be and is hereby elected director of the Company.”
This resolution was also unanimously adopted.
110
1115. Appointment of Auditors
Resolved : “That Messrs. Suneja and Pradhan, the retiring auditors be re-appointed as auditors of the Company from the conclusion of this meeting until the conclusion of the next Annual General Meeting at a fee of Rs. 10,000 p.a.
6. Vote of Thanks
The meeting terminated with a cordial vote of thanks to the Chairman.
111
Sd/- Sd/-Place : Mumbai Rakesh Daya Ajit Haldar Dated : 19th October 2011 Secretary Chairman
112ANOTHERSPECIMEN OF MINUTES OF ANNUAL GENERAL MEETING
DIAMOND INDIA LIMITEDRegd. Office : 777, S. V. Road, Mumbai – 400 092.
MINUTES of the 25th Annual General Meeting held on Feb. 26, 2007, at the Registered Office of the Company, 777, S. V. Road, Mumbai – 400 092, at 5 p.m.
Present : Brijesh Patel Chairman
Madan Lal Director
Chetan Chauhan Director
Farooq Engineer Director
Ajit Wadekar Director
Ashok Mankad Director
With 99 Shareholders (List attached)
112
113In attendance : Sandeep Patil
Bishen S. Bedi
Secretary
Auditor
Kirti Azad SolicitorSr.
No. Subject of Minutes Details of Minutes
1. Notices of Meeting : The Secretary Shri Sandeep Patil read the notice convening the meeting dated January 25, 2007
2. Directors’ Report and Annual Accounts :
With the permission of the members, the Directors Report and the Annual Accounts as printed & circulated were taken as read. It was resolved that annual accounts for the year ending December 31, 2006 as audited and certified by the Company’s Auditor Shri Bishen Singh Bedi, be received and adopted.
3. Auditor’s Report : Shri Bishen Singh Bedi, Auditors of the Company read the auditor’s report on the Annual Accounts and the Balance Sheet. It was resolved that the auditor’s report, be received and adopted.
113
114Sr.
No. Subject of Minutes Details of Minutes
4. Chairman’s Speech : The Chairman Shri Brijesh Patel made a brief review of the present performance and future prospects of the Company. He invited & answered questions from the members to the satisfaction of all those members who were present at the meeting.
5. Declaration of Dividend : The dividend recommended by the Board of Directors at the rate of 50% on Equity Shares of the Company was approved by the member. Necessary resolution in this respect was passed. “RESOLVED” that the dividend recommended by the Board of Directors for the year ended December 31, 2006 at the rate of 50%, be and is hereby approved.”
6. Re-appointment of Director :
“RESOLVED that Shri Madan Lal, Director of the Company, retiring by rotation and being eligible for re-election, be and he is hereby re-elected as Directors of the Company for another term”.
7. Appointment of Director : “RESOLVED that Shri Roger Binny, be and he is hereby appointed as Director of the Company in place of Shri Ajit Wadekar, whose term of Office expired this year.
114
115Sr.
No. Subject of Minutes Details of Minutes
8. Special Business : The Board’s proposal for the expansion and modernization of the plant located at Andheri, Mumbai, is approved by the members present at the meeting.
9. Appointment of Auditor : Resolved that Shri Bishen Singh Bedi, Auditor of the Company, be and he is hereby reappointed auditor for the year 2007 and that his remuneration be fixed at Rs. 40,000 per annum.
10. Vote of Thanks : Shri Farooq Engineer proposed the vote of thanks to the Chair and the Chairman declared the meeting as closed.
Place : Mumbai Sandip Patil Brijesh PatelDate : March 8, 2007 SECRETARY CHAIRMAN
115
116SPECIMEN MINUTES OF EXTRAORDINARY GENERAL MEETING
SYNDICATE INDIA LIMITED
Regd. Office : 55, Abade Faria Road, Margao Goa 403 601
MINUTES of the Extraordinary General Meeting held at the Registered Office of the Company, 55, Abade Faria Road, Margao Goa, on March 5, 2007, at 5 p.m.
Present : Chairman
Director
Director
Director
Director
Director
With 55 Shareholders (List attached)
Shakespeare
Jeanette Rebello
Socrates Dias
Farooq Engineer
Ajit Wadekar
Ashok Mankad
116
117In attendance : Verus D’Sa
Desmond D’Costa
Secretary
Solicitor
Glen Furtado Auditor
1. Notice of the Meeting : The Secretary Shri Verus D’Sa read the notice dated February 5, 2007, convening the meeting.
2. Removal of Director : Shri Kennedy Rodrigues, Director of the Company to be removed from the Board of Directors for his anti-company activities. Shri Kennedy Rodrigues was to be intimated of the decision by the Secretary.
“RESOLVED that Shri Kennedy Rodrigues, be and he is hereby removed from the Office of Directorship with immediate effect.”
3. Approval of Rights Issue : The proposed rights issue of 1,00,000 Equity Shares of Rs. 10 each at a premium of Rs. 60 to the existing shareholders in the proportion of one share for every two shares held, was approved by the members present at the meeting.
117
118Resolved that the Company to proceed with the rights issue of 1,00,000 Equity Shares of Rs. 10 each at a premium of Rs. 60 to the existing shareholders in the proportion of one share for every two shares held, to finance the proposed expansion and modernization of the plant located at Arlem, Salcete – Goa.
4. Vote of Thanks : Ms. Priya D’Costa proposed a vote of thanks to the Chair and the Chairman declared the meeting as closed.
Place : Goa V. D’sa S. ColacoDate : March 8, 2007 SECRETARY CHAIRMAN
118
119ANOTHER SIMPLE ANNUAL / DIRECTORS REPORTANNUAL REPORT (DIRECTORS’ REPORT) OF A COMPANY
HIGHLAND INDIA LIMITED201, Excel Road, Mumbai – 400 001
DIRECTORS’ REPORT
Dear Shareholders,
We have pleasure in presenting our 45th Annual Report together with the audited Accounts of the Company for the year ended December 31, 2009.
1.Operations & General :We are glad to report that your Company has recorded further improvement in its results during the year. Our group turnover during the year increased to Rs. 500 crore, an increase of 30% over the last year and the gross profit also increased from Rs. 35 crore to Rs. 50 crore. The exports increased to Rs. 40 crore, as compared to Rs. 30 crore of last year.
119
120
Figures in lacs
Last yr. Current yr.
Sales -
Profit Before tax -
Less : Provision for Tax -
Profit After tax -
Appropriations :
Dividends -
Tax on dividend -
General reserve -
Balance to Profit & Loss A/c -
2.Financial Highlights :
120
1213.Dividend :
For the financial year ended December 31, 2009, the Board has recommended a dividend of 25% per Equity Share.
4.Personnel Relations :
Cordial relations were maintained with the employees in all units at all levels. We thank the Officers, Staff and Workers of the Company for the dedicated work put in by them. As a matter of fact, an award of excellence in Industrial Relations in Maharashtra State was presented to out Andheri unit by the Finance Minister.
121
5.Directors :
Shri K. S. Nair was appointed as Managing Director with effect from November 25, 2011. He was earlier the Vice – President (Finance) of our Company.
Shri Leena Nair, Jayshree Mohan, Pankaj Mehta retire from the Board by rotation and being eligible offer themselves for re-election.
1226.Auditors :
Observations made in the Auditors’ Report are self explanatory and do not require further clarification.You are requested to appoint Auditors for the current Financial Year and fix their remuneration.
Mumbai
March 5, 2012On behalf of the Board,
Sd/-MAHESH SHETTY
Managing Director
Sd/-Anish Thakkar
Director
122
123PRESS RELEASES
2. The news items printed therein are prepared on the basis of press Releases Handouts supplied by various organisations.
1. All News Papers devote some space for Corporate News.
3. Press Releases Do not bring any money / gain either to the Company or to the news paper.
4. Press Releases helps to boost the image of the Company.
5. Every organisation has a PRO – It is the who releases important news.
6. Press Releases usually covers :
1. Important top level appointments.
2. Conferences.
3. Visits of VIP
123
1244. Signing contracts
5. Commissioning of plant.
6. Launching New Product
7. Getting export order.
8. Entry into Capital Market.
7. PRO issues Press Releases to all news papers into a request to publish them.
8. News papers / Magazines may / may not publish them.
9. Different from Press Report – Prepared by journalists on the basis of Press Releases. It is done by correspondent.
124
125Guide Lines for Drafting Press Releases
Press Releases should be news worthy
True / Brief / Precise
Simple Language
Every Press Release must have a heading
May / may not have sub heading.
Accompanied by covering letter.
125
126
126
EXAMPLES OF PRESS RELEASES
Suzlon Energy Rises 7% on Wind Farm Sale Buzz
MUMBAI Suzlon Energy shares rose 7% to touch an intra-day high of Rs30.25 on media re ports that the company's subsidiary in Brazil has sold wind farms worth $300 million. How ever, shares of the company shed gains to end at Rs29.20. up 3.4%, after market participants realised that the order was a part of an earlier deal and would not have any financial implica tions for the company.
HDIL Promoters Pledge Shares with IL&FS Trust
MUMBAI Promoters of realty developer Hous ing Development & Infrastructure (HDIL) have pledged 16.02 crore shares, or 38.24%, of their stake in the in favor of IL&FS Trust Company. In a regulatory filing with the Bombay Stock Exchange on Tuesday, IL&FS disclosed that the developers have created additional pledge for 34.72% stake in their favor, taking the total pledged stake to 38.24% of HDIL's equity.
Corrigendum: SBI has no Plans to Lend to Kingfisher
On February 22, we had claimed that SBI had lent Rs 1,200 crore to Kingfisher Airlines, in cluding a working capital of z400 crore. How ever, the story was subsequently denied by the $Ell and its chairman Pratip Chaudhuri.
Ceat Records Loss of Rs 34 cr for Nine Months
MUMBAI In the story headlined 'Anant Goenka to take over as Ceat's new MD' which appeared on Tuesday, it was mentioned that Ceat posted a loss of z 33.9 crore for the October-December quarter. The loss is actually for the nine months ended December and not for the third quarter. The error is regretted.
Dunar Foods Raises Rs.124 cr from IFC, TVS Cap
BANGALORE Dunar Foods, a basmati rice proc essing company based in Haryana, has raised z124 crore of equity capital from two investors, International Finance Corp. a World Bank affil iate, and TVS Capital. "IFC led the round with an investment of i74 crore," said Surender Gupta, MD of Dunar Foods. For TVS Capital, which put in z50 crore.
lnfosys, UK's Fabric Bag 'Large' GSK Order
BANGALORE Infosys and Britain's Fabric Worldwide, a provider of digital marketing technology, have won a large order from Glax oSmithKline to support the pharma company's global marketing campaigns. Infosys said. It de clined to give the specific size of the order. "I can only say it is a large (order).
127SPECIMEN PRESS RELEASES
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIAPRESS RELEASE
Current Examinations Rescheduled
The Institute of Chartered Accountants of India (ICAI) has rescheduled the Chartered Accountants Examinations scheduled to be held in May 2010 in view of the Elections to the Uttar Pradesh Legislative Assembly in the months of April / May 2010.
The Chartered Accountants, IPCC, PCC and CA-Final Examinations, scheduled earlier to be held from 3rd May to 11th May 2010 have now been rescheduled to commence from 4th May 2010 and will be held upto 12th May 2010. The revised examination-wise date schedule is available on the ICAI website www.icai.org.
127
128CORPORATE ANNOUNCEMENTS
CORPORATE ANNOUNCEMENTS BY STOCK EXCHANGES
1. Rama Newsprint And Papers Ltd. Has informed the exchange that ICICI Bank Ltd. (ICICI) has withdrawn nomination of Shri Adbnut as its Nominee Directors of the Company w.e.f. August 2, 20x1 and has appointed Ms. Neeta Mukerji as its Nominee Director on the Board of the Company w.e.f. August 2, 20x1.
2. Reliance Graphics & Technologies Ltd. Has informed the Exchange regarding a press release dated 15th July 20x2 ‘Reliance Gold’. The details of the press release shall be available on the NES website (http://www.nseindia.com) under Corporate> Latest Announcements and on the Extranet Server (/Common/Corporate Announcements.
3. RPL Ltd. Has informed the Exchange that the Board of Directors vide their Circular resolution effective August 04, 2008 resolved to issue and allot 50000 equity shares of Rs. 10/- each pursuant to exercise of the stock options by the eligible employees under the RPL Employee Stock Options Plans i.e., RPLSOP 2001 and RPLSD 2002.
128
1294. Board Meetings Announced
Company Reliance Publications Ltd.
NSE Symbol Compiler
Board Meeting Date 30.09.20x2
Purpose Audited Accounts/ Others
Details To consider and approve the Audited Annual Accounts for the financial year ended March 31, 20x2 and to fix the day, date and time of the AGM of the Company.
Scrip Code : 532461 Company Name : PUNJAB NATBK APRIL 11, 2007
129
CORPORATE ANNOUNCEMENTS
130
Punjab National Bank – Change in BPLR
5. Punjab National Bank has informed BSE that BPLR of the Bank has been revised from the existing level of 12.25% p.a. to 13.00% p.a. effective April 16, 2007
Company : Celebrity Fashions Limited NSE Symbol: CELEBRITY
6. Celebrity Fashions Limited has informed the Exchange that “The Company would publish the audited results for the financial year ended 31st March 2007, within a period of 3 months from the end of the quarter, i.e. on or before 30th June 2007”.
Company : Industrial Development Bank of India Limited NSE Symbol : IDBI
130
CORPORATE ANNOUNCEMENTS
131
CHAPTER 19
131
132LEGAL DEEDS AND DOCUMENTS
a) Affidavitb) Indemnity Bond
c) Power of Attorney
d) Lease Deede) Gift Deed
a)Partnership Deedi. Creationii. Reconstitution
Ad / Retiii. Sub
Partnershipiv. Dissolution
b)M/Ac)A/A 132
133
Any paper giving any information – letter / figures / marks which may be used as evidence
DOCUMENT
INSTRUMENT DEED
Formal legal documents confirms a right legal effect creates liability or use as evidence
All deeds are instruments but all instruments are not deeds.
IN INDIA NO DISTINCTION IS MADE BETWEEN INSTRUMENT AND DEED
133
134AFFIDAVIT
It is a written statement.
It is supporting application.
It is solemn affirmation.
It is like Touching Bible / Geeta / Quran in the court.
It is always on stamp paper (not franked).
It is signed before commissioner of oath / Notary public.
The person who makes an affidavit is called Deponent.
134
135
(Note : A practical way of making an Affidavit, go to a Notary Public – He/she, will get it typed on a stamp paper / Then Deponent will sign there on and pay Notary his charges – So need of going to court.)
AFFIDAVIT
1. An Affidavit is a written statement used mainly to support certain applications and in some circumstances as evidence in Court proceedings.
2. A person who makes the affidavit is called the Deponent. The Deponent must swear or affirm that the contents of the Affidavit are true, before a person who has the authority to administer oaths in respects of the particular kind of affidavit.
3. The Model Form of Affidavit is given below –
135
136
I, Mr. K.S. Nair son of Mr. K.A. Nair Aged about 68 years, residing at Lokhandwala Complex, Plot no 64, Andheri (W), Mumbai - 400053 hereby declare on oath as follows –
……………………………………………………...………………………………………………………………………………………………………….......…………………………………………….
Sworn on this ……. day of …….. 20XX.Before me :
Signature of the Deponent
136
137Draft an Affidavit for obtaining a certificate u/s 197 of Income Tax Act
SPECIMEN OF AFFIDAVIT
137
138A F F I D A V I T
I, K. Ramanathan, Son of Shri. L.Krishnakumar, aged about 36 years, residing at “Shri Devi Nilayam’, No. 1234, 56th Street, 78th Sector, Kapil Nagar, Chennai – 600 001, do hereby solemnly declare that –
I am an Income Tax Assessee assessed in the Status of Resident Individual, and my only source of income for the assessment year 2008-2009 is Income / Rent from House Property at the abovesaid address. I do not have any other source of income other than the above Rental Income. My Total Income does not exceed the maximum amount not chargeable to tax for the assessment year 2008-09.
138
139
This Affidavit is executed on the 3rd day of February, 2011.
Place: Mumbai Signature of K. RamanathanDate : 3rd February, 2011 (Deponent)
Before me.
Signature of Commissioner of Oaths / Notary Public/Other Witness before whom the Affidavit is made.Place : Mumbai Sd/-Date : 3rd February, 2011
I make this declaration to obtain a certificate u/s 197 of the Income Tax Act, 1961.
I hereby declare that the above facts are true and correct to the best of my knowledge and belief.
139
140Indemnity Bond (On stamp paper)
Like Power of Attorney
But a clause included to indemnity someone.
For e.g. you have lost a F.D. Receipt, and you want a duplicate FDR.
It is a contract to save someone from the losses and consequences.
The person who gives the indemnity bond is the indemnifier.
The other person is the indemnity holder.
It is on stamp paper / or frankedSigned by a Notary Public / Commissioner of Oath. (Optional) witness is a must.
140
141INDEMNITY BOND
I, ………………… son / wife / daughter of ……….., presently residing at ………….. having Income Tax Permanent Account Number ……., and assessed to income-tax in …….. Ward / Circle, do hereby agree to indemnify the Government of India / Income Tax Department for any loss that may occur on giving credit for the Certified Photostat copies of the TDS Certificates / ……… / ……….. / …………, for the Assessment Year 20XX – 20XX, for a sum of Rs. ………. (Rupees ………………………… only).
I ……. also Declare that the credit for the above TDS Certificate has not been claimed in any other assessment year / or in the hands of the Association of Persons …….
This Indemnity Bond is executed by me on this ….. day of ….. 20XX.
Witness :
Signature of the Indemnifier / Assessee
141
142Draft of indemnity bond for obtaining a Duplicate fixed deposit receipt from a bank
Activity Note
Students to draft for practice.
142
143POWER OF ATTORNEY
1. It is an written / legal instrument empowering some person to act for and or behalf of someone.
2. It comes under the “Law of Agency”
3. There are two types
General PA
Wider powers to execute several things.
It can be attested by Notary
It can be registered
Stamp duty may be payable.
Specific PA Specific power to represent someone to do a particular act.For e.g. CA to represent his client in IT matters attested by NotaryMay not be registered.
143
144Specimen of specific power of Attorney
Favouring a CA to represent the client before the Appellate Tribunal.
Draft a power of attorney to your CA for appearing before income tax authorities on your behalf.
POWER OF ATTORNEY
Power of Attorney to appear before Income Tax Authorities :
I/we ………… residing at ……….. hereby authorize ………… to represent me/my firm/my family in connection with ………. for the year…… His statement and explanation will be binding on me / us.
144
145
Signature
Place :
Date :
I ……. Hereby declare that I am duly qualified to represent the above-mentioned person.
Place :
Date :
Address of Power of attorney holder Signature of Power of attorney holder
145
146Draft a general power of attorney
Specimen of GENERAL POWER OF ATTORNEY
This DEED OF POWER OF ATTORNEY executed at Madurai, on this, the 16th day of January 2007, by –
K. MUKUNDAN, Son of Sir. J. Krishnamachari, aged about 27 years, presently residing at No. 253, Varasidhi Vinayagar Kovil Street, Andavarpuram, Madurai, Tamilnadu State, (hereinafter referred to as the ‘PRINCIPAL’),
To and in favour of
Sri. J. KRISHNAMACHARI, Son of Late M. Jayasimhan, aged about 58 years, presently residing at No. 3, Krishnan Street, Cuddalore, Tamilnadu State, (hereinafter referred to as the ‘ATTORNEY’),
WHEREAS I am at present working as a Software Engineer in M/s. Total Solutions International, and I am required to be away from India frequently by virtue of the nature of my job, and 146
147WHEREAS in view of my inability to be physically present for attending to my affairs, I deem it necessary to appoint my father Sri. J. KRISHNAMACHARI, as my Lawful Attorney to do the acts mentioned herein,
NOW KNOW ALL MEN BY THOSE PRESNT, that I, K. MUKUNDAN, Son of Sri. J. Krishnamachari, aged about 27 years, presently residing at No. 253, Varasidhi Vinayanagar Kovil Street, Andavarpuram, Madurai, Tamilnadu State, do hereby appoint and retain Sri J. KRISHNAMACHARI, Son of Late M. Jayasimhan, aged about 59 years, presently residing at No. 3, Krishnan Street, Cuddalore, Tamilnadu State, as my Lawful Attorney to do the following among other acts, deeds and things –
1. To open, operate and close any Banking Account in my name
2. To invest any sum of my monies in any bank or financial institution or such investments in various deposit schemes including Mutual Funds or Investments, as my Attorney may, in his absolute discretion.
3. To sign and file all letters, returns, statements, documents or any other documents on my behalf before the Income Tax Department or any other Governmental or Quasi Governmental authorities and to duly represent me before such authorities in all matters connected to me. 147
148
4. In the event of the necessity of any legal proceedings, to appoint Advocates, either to initiate any legal proceedings or to defend any proceedings that may be initiated against me or any of my properties.
5. To deposit on my behalf the documents of title and so state on my behalf to any officer of XYZ Housing Finance Ltd, that the said documents are being deposited for creating a security on the said property by way of deposit of title deeds for repayment of the said loan.
6. The Attorney is further authorized to make any other statements necessary to create equitable mortgage by deposit of title deeds and also to execute any writings, undertakings, indemnities etc. on my behalf.
148
1497. The Attorney is also authorized to execute any Loan Agreement, Promissory Notes,
Letter of Declaration and Indemnity Bond or such other documents as may be required by XYZ Housing Finance Ltd. In respect of the said loan.
8. To acknowledge my liability / debt in respect of the loan.
9. To book a flat / residential unit on my behalf. And to execute Agreement for Sale for the same with any Builder / Seller and make payments to him there for and to present such Agreement for registration before the appropriate Registrar. The Attorney is authorized to make such payments to XYZ Housing Finance Ltd. as may be demanded to XYZ Housing Finance Ltd. by way of service Charges, etc.
149
150AND I HEREBY AGREE –
To ratify and confirm all and whatever other act or acts my said Attorney shall lawfully do, execute or perform or cause to be done, executed or performed in connection with any matters under and by virtue of this Deed notwithstanding no express power in that behalf is hereunder provided.To indemnify my Attorney from any damage or loss, which may be caused to him as a result of exercise of the powers granted to him under this Deed of Power of Attorney.
No consideration has been paid or received for executing this Deed of Power of Attorney.
IN WITNESS WHEREOF, I have set my hand in the presence of the following witness on this 16th day of January 2011.
(Principal)
Witnesses :1.2. 150
151
CHAPTER 20
151
152GIFT DEED
1. Law covering gifts are covered by the Transfer of property Act 1882 and the Indian Succession Act 1925.
2. What is a gift – It is a transfer of movable or immovable property without any consideration.
3. Gift is always free and hence never say free gift.
4. Gift has to be accepted by the Donee
5. Doner & Donee have to be alive - No gift after the death of either.
6. Registration : Movable Property – optionalImmovable – Must
7. Witness is required for Both
8. Gift is always voluntary. 152
153Draft a Gift Dead
Specimen of Gift Deed :
This Deed of gift is made on this 12th day of March 2011. Between Mr. K.S. Nair an Indian inhabitant residing at flat No. 10, ABC Cooperative Housing Society Ltd Mumbai, hereinafter called ‘The Doner’ of the one part and, also an Indian inhabitant of Mumbai Residing at Flat no 10, Siddharth Society at Chembur, Mumbai city herein after called there ‘Donee of the other part. Whereas the Donee is the nephew of donor and whereas the Doner is the member of ABC society which is duly registered under Maharashtra Cooperative Societies Act, 1960. The donor has 5 fully paid shares of the said society. The donor has acquired a flat No. 10 on the 3rd floor and measuring 1,500 sqr.ft. In the building situated at Mumbai city.
Whereas the Donor has full right title and in last in their said shares/flat more particularly described in this schedule. And whereas the donor desired to gift his right, title and interest in the said share/flat in the said building of the said society described in the schedule hereunder written to the Donee hereto.
153
154The Donor out of natural love and affection for the donee hereby transfer by way of gift his right title and interest in the said shares and the flat absolutely forever.
The Donee accept the gift and agrees to hold that right title and interest of the Donor in said shares/flat of the societies.
In the presence of ………… (Witnesses)Sd/-Donor
1. ……………….
2. ……………….
Signed and Delivered :
By the named Donee.
In the presence of………….. Sd/-Donee
1. ……………….
2. ………………. 154
155LEASE DEED
1. Owner of an immovable property (Lessor) transfers to another party lessee for a certain period of time for a certain consideration.
2. Provisions of Transfer of property Act 1882.
3. There must be a transfer of right of enjoyment of property.
4. The consideration is called premium or rent.
5. Lease Deeds have to be registered.
6. Signed by lesser & lessee and witnesses.
155
156DRAFT A LEASE DEED
THIS LEASE is made on this the day of ……between ……..,S/o……., aged about years, residing at …….. (hereinafter called the LESSOR); ONE PART;
and ………….. son of .… aged about … years presently a ……….residing at …….. and Herein after called the LESSEE Whereas, the lessor is the absolute owner of the property………(more fully described in the schedule hereunder and hereinafter referred to as “Schedule Property’) and Whereas, the Lessee is desirous of taking on lease the Schedule property for a period of …….. from today and whereas, the Lessor is agreeable for the same. Following are the Terms and conditions.
1. That the lessee has undertaken to pay the lessor a monthly rent of Rs…/ (RUPEES…..ONLY) for the Scheduled Property on or before the ……day of the following calendar month, and …months rent of Rs….(RUPEES deposit by the lessee on the date of execution of this lease; the receipt where of the lessor hereby acknowledges and agrees to repay the same without interest at the time of vacating the Scheduled Property, after deducting for damages, if any.
156
157
2. The lease shall commence from the….., day of…and shall be in force for a period of…….
3. The lessee shall use the Scheduled Property only for residential purpose and shall not assign or sublease or use the Scheduled Premises for any unlawful purposes or alter the Scheduled Property without the consent of the lessor in writing.
4. During the lease period, the lessee shall pay the electricity and water charges to the respective departments promptly and obviate disconnection at any time.
5. The lessee shall permit the lessor or his agents, to enter the Scheduled Property at all reasonable times for the purpose of periodical inspection.
6. The lessor shall pay the building tax whenever the same shall fall due.
157
1587. Termination of the Lease – The Lessor has right to terminate the lease and re-enter
into another lease
i. By serving…days notice prior to the termination of the lease.
ii. By Afflux to time
iii. In the event of non-payment of rent by the lease for a period of two consecutive months.
iv. In the event of Breach of by either party of the terms and conditions and covenants hereof.
8. Handing over the premises to the Lessor – The lessee shall deliver back in good condition as it was on the day of the occupation, the possession of the Scheduled Premises to the Lessor immediately upon the expiry of the said terms and conditions or on earlier termination.
158
159SCHEDULE
………Squares of house bearing No., at ………measuring East to West…….M. North to South……..
M and bounded on:
East by : ……….West by : ……….North by: ……….South by: ……….
Fixtures provided by the Lessor –
Fans – Nos.
Geysers - .Nos.
159
160
In Witness whereof the parties hereto have their respective hands and seals to this Agreement on the day, month, year first written above.
Sd/-
1. Lessor Lessor
2. Lessee
Lessee
Sd/-
160
161
DRAFTING OF
1. Partnership Deed
2. Reconstitution of Partnership Deed (Admission)
3. Reconstitution (Retirement)
4. Sub-Partnership
5. Dissolution of Partnership
6. Memorandum of Association
CHAPTER 21
161
162Specimen of Partnership Deed
DEED OF PARTNERSHIP
THIS DEED OF PARTNERSHIP entered into at Chennai, on this 23rd day of April 2007 –
AMONG
1. R. Krishnamurthy, Son of Shri. K. Rajeswaran, aged about 36 years, presently residing at No. 144, Narahari Street, Simhachalam Nagar, Chennai – 33, hereinafter called the FIRST PARTY;
2. Vidya Vasudevan, Daughter of Shri. S. Vasudevan, aged about 21 years, presently residing at Flat A – 27, First Floor, TDM Flats, 4th Main Road, Arun Nagar, Chennai – 34, hereinafter called the SECOND PARTY;
3. H. Rakesh, Son of Shri. M. Hariharasutan. Aged about 27 years, presently residing at No. 36, Vasudevan Nagar III Cross Street, Chennai – 35, hereinafter called the THIRD PARTY.
162
163WHEREAS the aforesaid parties have come together to carry on the business of providing consultancy services in connection with Insurance, Investments, Stocks & Shares, Mutual Funds and Real Estate, in Partnership under the name and style “KVR INVESTMENT CONSULTANTS”, and the terms and conditions of the Partnership are hereby mutually agreed to as follows :
1. Meaning : The term “Firm” hereinafter contained shall refer to the Firm “KVR INVESTMENT CONSULTANTS”, and the term “Partners” shall refer to the parties of the FIRST, SECOND and THIRD PARTS.
2. Name : The Firm shall carry on the business under the name and style of “KVR INVESTMENT CONSULTANTS”, and / or such other name or names as may be agreed upon the parties theret.
3. Situation : The principal place of business of the Firm shall be situated at No. 144, Narahari Street, Simhachalam Nagar, Chennai – 33.
163
1644. Business : The business of the Firm shall be the provision of consultancy services in
connection with Insurance, Investments, Stocks & Shares, Mutual Funds & Real Estate, and such other business as may from time to time be mutually agreed to among the parties.
6. Management and Remuneration : All the Partners shall be Working Partners and are actively engaged in the conduct of the business of the Firm.
5. Capital : The Capital of the Firm shall be such sum as is found credited in the books of the Firm, from time to time in the Capital Accounts of the Partners. The capital account of the partners shall carry interest not exceeding 12% per annum. In case of Debit Balances in Capital Accounts, interest shall be charged on the same at 12% per annum.
7. Type of Partnership : Subject to other provisions of this Deed, the Partnership will be one at WILL
8. Accounts of the Firm : The accounts of the Firm shall annually be closed on 31st day of March every year and general.
164
1659. Sharing of Profit :
Name of the Party Share of Profits / LossesFirst Party 50%Second Party 30%Third Party 20%
10.Bank Accounts : The Partners may open as many Bank Accounts as they may resolve but no account for the firm shall be opened in the name of Partners. Any two Partners of the Firm shall be entitled to operate the Bank Accounts jointly
11.Variation : Any of the above terms and clauses may be altered, varied, amended or added to by common consent of the parties as and when deemed necessary.
IN WITNESS WHEREOF the partners have signed this Partnership Deed out of mutual good will and consent, on the day, month and year first above – mentioned.
WITNESS :1. FIRST PARTY2. SECOND PARTY3. THIRD PARTY165
166A partnership firm was constituted by A, B and C. A, the partner of the firm, expressed his desire to retire from the partnership firm by Mutual consent. Draft a "Partnership Retirement Deed". (4 marks)
Answer :Partnership Retirement Deed.
1. This retirement deed executed on the 20th day of November, 2011 between Mr. A aged about 40 years S/o Mr. Y residing at Allahabad here in after called first party.
2. Mr. B aged about 35 years S/o Mr X residing at Allahabad herein after called the 2nd party.
3. Mr. C aged about 45 year S/o Mr Z residing at Allahabad herein after called the 3rd party.
Witnesses as follows,Whereas the aforesaid parties were carrying on business in
partnership under an instrument of partnership the last of which is dated……and where as the first party having expressed a desire to retire from the partnership by mutual consent the terms of retirement are hereby agreed to as follows:
1671. Mr. A, will retire from the partnership effective from close of business on…….2. The firm is free to continue the business with all its assets and liabilities
and use the same firm name with the remaining partners.
3. The accounts of the retiring partner is settled in accordance with the books of accounts.
4. In consideration of moneys received A party hereby releases all his rights interest in the balance of assets of the firm including the goodwill.
5. The continuing partners B and C release A party of all debts and obligations from the firm as on the date of this deed to third parties.
6. The parties hereby agree to execute such other document that may be necessary to give effect to this partnership retirement agreement.
Witness1 Signature of the first party2 Signature of the second party
168(c) A, B and C are partners of a firm. A retires from the firm by mutual consent due to sickness. Remaining partners (B and C) decide to admit D as a new partner in their firm. Draft a deed for reconstitution of partnership. (4 marks)
Answer :Deed for Reconstitution of Partnership :This Deed of Reconstitution of Partnership executed on this….. day of…… , 2010Between B, S/o….. ,Aged…… residing at………..(hereinafter called the first party), S/----, Aged……… residing at………… , (hereinafter called the second party), and , Aged…. residing at……….. , (hereinafter called the third party). Whereas the parties B and C were working in partnership along with another partner A, a business under the name and style of A B C constituted under an instrument of partnership the last of which is dated….. ; and whereas the said partner A retired from the old partnership by mutual consent due to sickness allowing the other partners to continue the partnership business in the same name with all its assets and liabilities, and whereas the parties B and C invited D to join them in the partnership to carry on the said business for which he has assented, the terms and conditions of the reconstituted partnership are hereby agreed to as follows:
1691. The business under the name and style of A B C carried on by the
erstwhile partnership will continue with all its assets and liabilities as the business of this reconstituted partnership.
2. The name on which the partnership business shall continue to be A B C and such other-name as the parties may from time to time determine. Other clauses as in the partnership deed.
170DRAFTMEMORANDUM OF ASSOCIATION
MEMORANDUM OF ASSOCIATION OFMAHESH TUTORIALS LTD.
Sr.No. Clause Particulars1. Name clause The name of the co. shall be MAHESH TUTORIALS LTD.
2. DOMICILE CLAUSE The Registered office shall be located at 220 – 2nd Floor – “FLYING COLOURS”P. D. D. U. MARG, , MULUND (W), MUMBAI – 400 080.–
3. OBJECTS CLAUSE The main objects of the co. shall be.1. To impart quality education in the science /
commerce / chartered accountancy / ICWA / ICSI streams
2. To prepare students to equip them with the skills to appear for various examinations in the above streams.
3. To develop them through education and Training for making them successful human – beings. 170
1714. Capital clause The Authorized / Registered capital of the co. shall be Rs. 100 crores divided into 10 crores equity shares of Rs. 10 each.
5. Liability clause The liability of the members of the co. shall be limited by shares.
6. Association and subscription clause
We, the following persons whose name, addresses & occupations are given here under are desirous of being formed into a co. in pursuance of this memorandum of Association – we also agree to take up the number shares shown against our name
NamesAddresses & No. of equity Name,
Sr. occupation of shares of each address &No. subscribers Signatures subscriber occupation1. MAHESH SHETTY
– MulundAge – 37 yearsOccupation - Teacher
500 (Five Hundreds)
of witness
171
1722. ANISH THAKKAR 12, –
MulundAge – 33 yearsOccupation –
500 (Five Hundreds)
All seven parties have
signed beforeSd /-
Mrs. Jayshree Mohan 10 R.B. Road chembur,
Mumbai.Age. – 45
Occupation – Teacher
3. SHRENIK KOTECHA12, – MulundAge – 28 yearsOccupation – Teacher
500 (Five Hundreds)
4. Prof. K.S. NAIR,Andheri (W)Age – 65 yearsOccupation – Retired
100 (One Hundred)
5/6/7 3 more Name, Addresses, Age etc.
(3 more)
Dated ……….. this day of ………… at Mulund, Mumbai 400080.
172
173
173
The End