Published On: Wed, Oct 19th, 2011

When Society can issue Duplicate share certificate?

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Share Certificate is one of the most important documents issued to the members of the Co-operative housing society. The member who has lost his Original Share Certificate should make an application to the Society with Indemnity bond stating that he has misplaced/ lost his Original Share Certificate. On receipt of the application the Secretary should call a Managing Committee Meeting for issuance of duplicate Share Certificate to the members. The member must agree to indemnify the society for all cost, expenses that with regards to the issue of a Duplicate Share Certificate. The member should also give an undertaking that he has not mortgage or pledged the Share Certificate with any financing agency. It is important that the society may invite objections by affixing a notice on the notice board of the society. If no objections are received within fifteen days from the date of affixing the notice on the notice board of the society then the society may proceed to issue a Duplicate Share Certificate. Sometime society should insist for a public notice for issuing Duplicate Share Certificate. The Society can charge to the member for issue of public notice before allotting a Duplicate Share Certificate.

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  1. Hemant says:

    I am office bearer of a Mhada CHS I have following query. There is 1 member in our society who have approached managing committee for duplicate Share certificate. He had another room in our colony that building collapsed in that he had lost all his documents including the share certificate of our society. He has got a certificate from police certifying that he has lost all important documents & also the share certificate. Now this person is claiming that the police letter is sufficient for issuing duplicate certificate. There is no need of giving notice of loss of share certificate in newspaper. Is he right & what step we should adopt.

  2. Mahendra More says:

    Shri Hemant, you first of all inform your member that there are certain procedures laid by bye laws.
    1. Member should apply for the duplicate share certificate
    2. Should furnished notarized Indeminity Bond regarding lost of share certificate and clearly mention that the share certificate is not mortgaged or any loan taken against the flat. 3. publish advertisement in local news paper 4. display a notice on societies notice board. 4. and if within 15 days no any objection received with the consent of Managing Committee meeting duplicate share certificate can be issued… ONLY POLICE FIR IS NOT SUFFICIENT.

  3. Jatin says:

    I had sold the flat to our neighbour on 1991, at that time I had given them the Share Certificate. Now, they have not transferred the share certificate on their name. Further more they’ve misplaced it. On requesting to the secretary to issue the new certificate she asked my neighbour to get a no Obligation letter from me. I don’t understand how this will help, because I had handed the certificate to them on the first place. And now who am I to give a NOC to them…. cause the flat no more belongs to me…
    It would be great if you advise me should I give the No obligation certificate or should I not….

  4. Ashish Merchant says:

    Respected sirs,

    Whether Society can Hold to issue Duplicate share cetificate for defaulting in payments.

    Pls answer asap.

    Thanks,
    Ashish

  5. ananda says:

    hi, sir,
    my shear certificate is misplaced .socity said that make nc in police station,and publised in newspaper,
    but when i went to police ,they said no need of affiduate and this is socity matter,pre owner shuoid take his share amount return,and give apllication to soc.by pre owner.

  6. ananda says:

    pl.spell mistake is egnor.thank u.
    but in case what to do?and one more thing share certificate holding the name of pre owner on front and back side of 2nd owner.is right?

  7. Niranjan Satam says:

    I have made Indemnity Bond that I have not raised any loan on share certificate or morgaged anywhere, I have POLICE FIR and also I have publish advertisement in Freepress journal and Dainik Navshakti, yet Scretary delaying in issue of duplicate share certificate. What can i do.

  8. smita says:

    i have a query..,my grand mother expired and she has willed a flat to her 6 children. one of the brothers is asking for consent to make him the owner and the member of the society. He says after signing the declaration also we will be legal heirs.Is he right? i think we should first make share certificate with the names of 6 legal heirs ..and then give consent for him to become the member of the soceity..how should we go about?

  9. nita says:

    Why should water leakages from the flats above to the flats below not be attended by the Cooperative Housing Society Managing Committee?
    Does any society member take permission of the flat owner staying below his flat for his opinion before carrying out the Renovations and Repairs of the flat?
    Is it not the Society Managing Committee who grants permission for the Repairs and Renovations of the flat to its members?
    Is not the Society responsible for the so many other Repairs of the Society?
    Does any one force a society member to buy the terrace flat?
    It is bought out of choice so why should the society do the repairs of the terrace leakages?
    Why then in the case of Terrace Repairs, it becomes a society responsibility.

    Any Answers: Do the solicitors have any opinion?
    Can the Cooperative Housing Society Registering Authority give any opinion?

    Grieved members who suffer from such water leakage in their flats due to the work carried out above their flats should report such matters to the municipality (Buildings Dept) and Lodge a Police Complaint, Report it to the Cooperative Dy Registrar if the Managing Committee is not taking any responsibility to repair such negligent water leakages..

    Members Demand from your Managing Committee
    The M-20 bond has been signed and submitted to the Deputy Registrar of Cooperative Society.
    That every Committee Member complies with:
    Member of a Co-operative Housing Society in Maharashtra, who has more than two children is not eligible to be a member of the Managing Committee. This disqualification is applicable only to a member to whom the third child is born after September 7, 2011
    Also, if a member is convicted by a Court of Law for any offence involving moral turpitude, that member is not eligible to be elected as a member of the committee unless a period of six years has lapsed since such conviction.
    A member who defaults in payment of dues to the society within three months from the date of service of notice in writing is not eligible to be elected as a member of the committee.

    As per the Maharashtra Co-operative Society Act 1960 vide Section 73(1AB) every members of Managing Committee of Cooperative Housing Society have to execute the M-20 bond and submit it to the Deputy Registrar of Cooperative Society to make them accountable of their personal responsibility and liability towards the society and its members.
    (Bombay High Court – Writ Petition No:457 of 2007) under article 226 of the Constitution of India.

    Bye Law No: 136 of the Old Model bye Law and Bye Law no: 138 which lays down that the members of the Managing Committee shall be jointly and severally liable for making good any loss which the society may suffer on account of their negligence or omission to perform any of the duties and function cast on them under the Act, Rules and bye laws of the Society.

    Use RTI to get Information.

  10. hasmukh shah says:

    what the legal processor for the lost of  co.op.housing society share certificate ?

  11. satya says:

    I had purchased the flat from the builder, @ the time of purchase society was not formed, now i am planning to sell my prop, all the docs are available with me. But I had reliased that i have not recieved the Share Certificate from CHS Ltd, Now I have recieved the NOC from the society for Sale. This NOC will stand for Transfer of My Share Certificates on my Flat Buyers Name.
    Please answer the query. I don’t have the share certificate no even, I can ask the info from the Managing Committee.

  12. p k naidu says:

    one of my bonafide member has submitted his original share certificate for including his  associate members name. The share certificate has  been  laminated  from  both  the  side front and back. we are unable  to make  the  changes  required by the member.  can  the managing  committee  issue  a duplicate share  certificate, if  yes what  are  the  procedure  and  charges. please awaiting  for  reply as  soon as possible

    rgds
    p k naidu  Chairman,
    Ganesh  Prasad  CHS LTD.,
    navagaon
    dahisar
    mumbai 68

  13. Sanjay anand says:

    Dear Concerned , I am an office bearer and ours is a new society , before giving the share certificates we are insisting that for those residents who have taken loan from banks against the flats need to submit a NOC from the bank to collect the certificates . But there are members who say that only those members who have taken an NOC from the society to avail of bank loans need submit this to the Society , for NOC’s taken from the Builder , this need not be requested by the society . Since the Society has not given any undertaking to the bank and thus no liability . Pls clarify .

  14. Swapnil says:

    Dear sir,

    I have lost share certificate before transfer from my previous owner. I have taken home loan to buy this flat. Now since bank asking for share certificate. To apply for duplicate certificate in indemnity bond what should i mention?

  15. Bhushan says:

    I have one quiry,if our society missed the original agreement and member also not having the same then how can get it done duplicate.

  16. hitesh b shah says:

    i have purchase flate throo bank auction ,bank has no original doucumant including shares cirtificate,all leaglw proses will doune,all later submeet in society by bank for issuing duplicate shares cirtificate.
    what i do for shares cirtificate

  17. angel shah says:

    i purchased a flat in 2000 and followed all formalities.but due to unawareness i didnt gave my share certificate to my soc. now i want to sell my flat and transfer has not been done yet..our chairman died in 2002. now pls help me who will sign on it??

  18. Ashish says:

    hiii please some one answere my query…Actuly I am applying for loan in bank.changing loan to other bank..so now every documents I have given them…now they are asking me for share certificate??what is that???they are saying you should get that from your society…onl…but am not getting why they need share certificate?????

  19. hiral says:

    Can you specify exactly under which bye law or MCS Act and rules are the provision for issuing duplicate share certificate mentioned.

  20. kaushal says:

    Our society at least 40 years old we buy home 18 years ago. Now i lost my society share certificate also our society have no idea regarding our previous home owner now our society tell me without detail they can’t issue me duplicate certi. Then what can I do? Please suggest

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