Ours is a redeveloped building where new members were added(by redeveloper) after reconstruction. New share certificates were prepared for the new members and they were asked to produce certain documents before collecting the certificate. However, in one of the certificates, the flat number mentioned was incorrect due to oversight. However the member did not bother to submit the documents and collect the share certificate for over a year in spite of repeated verbal reminders.. He suddenly requested the committee that his bank (which provided him loan) is insisting to see a copy of the share cert just to make sure. So the society in good faith gave him a photo copy ( nothing was officially done). Thereafter, the error in flat number was pointed out by him verbally first then by a letter. The society verbally informed him that a fresh certificate is prepared which he can collect after submission of required documents. However, he went on to sell his flat(duly registered) using the photocopy of the incorrect share certificate. This happened when the secretary of the society was away for a short period and the chairman and other members approved the deed. This was done due to ignorance and there was no intention of any fraud whatsoever by the Chairman or other committee members.
The present situation is that the sale which is duly registered and documented by the registrar carries a copy of share certificate with the incorrect flat number and the new purchaser has occupied the flat after the sale deed was approved in the AGM( All this happened in the absence of the secretary).
Please advise what are the legal implications and what is the remedy.
