Hi,
A partnership firm bought a small terrace flat in a mumbai Cooperative Housing Society in 1986.
CHS issued a share certificate for 5 shares in 1986 with distinctive numbers and in 1988 another share certificate for 5 shares with different distinctive numbers was issued.
Question is, why are there two share certificates with different distinctive numbers?
Society feels it is because of the partnership firm and now society wants to merge into one certificate only for 5 shares.
How much of this legally correct.
What reasons might be there to issue another set of 5 shares in 1988.
Does the individual purchaser loose anything in this arrangement by merging the share certificates into five shares?
Please throw some light on this.
Thanks a lot.
Regards.
P.s. by mistake I had put 50 shares earlier
