LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Dhruv (ABC)     27 June 2013

Change in name of share certificate - co-op hsg. soc.

Dear All, A public limited company owns a flat in our Society. The said company has been taken over and the new management has changed the name of the company. The said company has written to the Society for change in name in the records of the Society. However, the said management says that it has lost / misplaced the Original Share Certificate. However it says that irrespective of that, the Society is bound to change the name of the company in Society records viz. Share Register, Forms "I", "J" etc. Is the Society bound to do so without production of Share Certificate before it?


Learning

 1 Replies

Advocate Rohit (Advocate)     27 June 2013

if the said certificate is misplaced by the company, then they need to apply for the duplicate share certificate with the society in writing and has to comply with the formality such as lodging an FIR with the Local Police station, providing indemnity bond cum undertaking to the society and issuing advertisement in the two local newspaper. This would safeguard the society against any claim if the company had given the share certificate to any bank/financial institution for obtaining any loan etc or had sold the flat to any party. Regards, Advocate Rohit Dalmia 9324538481

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register