Dear friends,
We have a flat in Pune in a registered cooperative housing society. It was in my mother’s name. After she expired, the Managing Committee, after following the procedure, made me a member. My name has been put on the share certificate. Now is it necessary that the transfer should be approved at the Annual General Meeting (AGM) also? The byelaws are vague on this point. Nobody is sure and opinion is divided. The Chairman thinks it is not necessary. He says the share certificate is enough. The Secretary earlier said it was needed to complete the procedure, but now says it is not needed. Some people have become members without their names going before the AGM. Please tell if transfer has to be approved by AGM and if possible, mention the byelaw number.
Regards,
Sunil
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