Name transfer in share certificate of coop hsg. society

HSJAIN (Querist) 16 December 2014 This query is : Resolved
Four persons are jointly owning the flat in our societyin MUMBAI .First holder has transfer his shares holding by way of gift in favour of forth joint owner and wishes to incorporate the name change in share certificate.Please advise whether forth owner name should be incorporated as first holder or no need to make any other change except for deletion of the first owner who have gifted his share holding in favour of forth joint owner.Who should be treated as first ownerin such a case.
An early reply is anticipated.
Regards
JAIN

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ajay sethi (Expert) 16 December 2014
fresh endorsement should now be made in favour of 3 remaining joint owners in the share certificate .
fourth owner , second , third owner names should be reflected in certificate