Noc

shekhar (Querist) 04 January 2013 This query is : Resolved
350 members are in our society. Some of them have illegal construction. Society has send notices to them with cc to police station and corporation.
one of this member has to take loan on his flat. he has lost the share certificate. now.
can a chairman alone can sign NOC? what process has to followed to issue him the Share certificate? affidavit with notary or to be registered. or indemnity bond is necessary?

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Raj Kumar Makkad (Expert) 04 January 2013
Indemnity Bond duly attested by executive magistrate shall suffice the issuance of the duplicate share certificate.

The matter of issuance of NOC should be decided in the meeting of the committee as chairman has got no absolute power.