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Issue of a duplicate share certificate in lieu of an old certificate
20-Jan-2023 (In Property Law)
One of the member of our Society wants us to issue a duplicate share certificate in lieu of their old/damaged/torn share certificate of their flat. Kindly advice the procedure for the same. Also please let us know the charges to be paid my the member to get duplicate certificate.
This is my response to you:
1. You will need to comply with the society bye laws more specifically bye-law no.9 (b);
2. It reads as follows:
b) the Committee of the Society shall issue a duplicate share certificate, “So Marked”, on application to its members on production of following documents.
1. if the share certificate is lost - copy of police complaint lodged, and an affidavit in that regard.
2. if the share certificate is soiled, burnt, torn, disfigured etc. affidavit in that regard.
3. You will need to charge Rs.100/- or as per the conditions laid down by in the society bye laws;
4. Consult a local lawyer and take steps.
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Adv. Gowaal Padavi
Mumbai | 1000+ Answers
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