Is mutation must in share certificate?

One bungalow is situated in the co- operative housing society in Ahmedabad, Gujarat. The society was registered in 1935. Land owned by society and super structure is owned by the one of the legal heirs of the first allotee. Upon request of the first allotee, society entered her wife's name in 1975, then after the first allotee and his wife jointly requested to enter the name of one of the legal heirs, society entered the name. Both the entries were made without registered documents, then after death of first allotee and his wife, society considered the said legal heir as sole ownerabd upon his request society entered his wife's name without any registered document, thenaftr other legal heirs took objections and after mediation few heirs waived their right in favour of first legal heir and remaining heir sold his right to the wife of legal heirs. Now the question is , society is not ready to enter all events in the share certificate, and one builder is planning to float a residential scheme on the said plot then can builder get the clear and marketable title without share certificate and registered documents?