Govind Meena 16 March 2020

How do i get my share certificate back?

Our society(30 years old) went into redevelopment 5 years back and 2 years back the builder who undertook the redevelopment work gavve us the soft possession of our flats. Our society is yet to be formed and builder is yet to give us actual possession. Recently our Chairman, who is an old member of the previos society, and has been made Chairman unanimously 2 months back decided to allot new Share Certificates to the members claiming that the fface value of the previous Share Certificates was too low. He took everyone' old share certificate and asked me for mine as well. I was out of town then, and informed him that i will give the same to him upon my return. On giving the same to him, on my return, i asked for the receipt, however he said that there is no need and that the new certificates will be issued soon to everyone. I have moved to another city now - 2 months later - however yet have not received the receipt for the same. I have started losing trust in the person since he is no longer responding to my queries as well.What should i do?Pls help

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3 Replies

Dr J C Vashista (Advocate) 16 March 2020

The Society is perpetual and do not dissolve to form it again on redvelopment, as stated by you. There is no occassion/ requirement for surrendering share certificate for redevelopment.

What is the type of Society referred by you ?

Whether all members have handed over their certificate (s) ?

Did you ask for the share certificate, in writing ? If not, apply.

Dr J C Vashista (Advocate) 16 March 2020

It is better to consult and engage a local prudent lawyer for analyses of facts/ documents, professional guidance and necessary proceeding.

G.L.N. Prasad (Retired employee.) 16 March 2020

First write a Registered notice demanding for new share certificate in lieu of the old share certificcate surrendered to.............on......................

Wait for 5 days and then make a written complaint to Society Registrar,

After one month issue notice under CP Act for deficiency of service seeking for FRESH SHARE CERTIFICATE, compensation of Rs.0,000/- for harassment.

Make follow up with old neighbors or known persons in those buildings.