Flats and share certificates
RMM
(Querist) 19 November 2015
This query is : Resolved
Dear sir. There are 7 flats in my building in Mumbai. 1 per foor. 4 of th flats have 2 agreements each and therefore 2 share certificates and 3 of them have 1 agreement each and 1 share certifate each. There are therefore 11 members. This was done by the original builder to form a CHS.
However, we as single share certificate holders have only 1 voting right in all matters and are at a complete disadvantage even though all our 7 flats have same areas. How do we circumvent this. Can we split our single share certificates into 2 as this is leading to multiple issues in our building.
Also can people from the same flat with 2 separate share certificates in 2 sep names become office bearers ie 1 secretary and 1 chairman. Is this not conflict of interest?
P. Venu
(Expert) 19 December 2015
The arrangement is inherently inequitable. You may take up the matter with the Registrar.
