Issue of share certificate by a cooperative group housing society

Ravinder Kumar Rohilla (Querist) 16 November 2011 This query is : Resolved
Dear Sir,
Kindly advise if Hony. Secretary of a Group Housing Society refuses to sign a share certificate of a member due to some personal problems, will the share certificate signed by other two signatories i.e. President and Treasurer and approved for issue by the other members of the Managing Committee of the Society, be considered a valid share certificate for all purposes in the eyes of law?
Warm regards
RK Rohilla

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ajay sethi (Expert) 16 November 2011
please check whether in your society the mode of operation is Secretary with any one or any 2 signatroies can sign .

generally in cooperative soceites share certificate for transfer is approved by managing committee and ratified by AGM .

the decision of the AGM for transfer of shares is binding on secretary and he cannot refuse to sign