Non issuance of share certificates

Mihir Joglekar (Querist) 09 June 2017 This query is : Resolved
Dear Sirs,

It has come to our notice that, to 50 Members of CHS hasn't been issued Share Certificates for past 7 years by the Managing Committee of our Society. What are the implications of the same ?

Regards,

Mihir J

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Guest (Expert) 09 June 2017
Seems to be an academic query.

By the way, implications of law with respect to what specific offence?

Also, what the society members had been doing for the last 7 years by attending AGMs and electing the MC continuously, when they failed to do their real job, but not questioning them?

Also, what plea the MC has given for not issuing share certificates for the last 7 years?

Kumar Doab (Expert) 09 June 2017
Write to society under proper acknowledgment/POD.

Let IT reply whatever IT wants.

Ms.Usha Kapoor (Expert) 10 June 2017
Once the members are regularly paying maintenance charges MC of Society is duty bound to issue members share certificates.Bring it to the notice of Deputy Registrar.

Guest (Expert) 10 June 2017
Usha ji,

Irrespective of whether a member pays or not the maintenance charges, if he has subscribed towards the share capital of the society, he must be issued share certificate. It is not incumbent upon whether he is a regular paymaster or a defaulter.