Lost Share Certificate
Manoj Ahuja
(Querist) 09 December 2016
This query is : Resolved
Hi, I reside in Sion in a co-operative housing society. I have a dispute ongoing against the Society at the Registrars office. The case is around transfer of Membership from my Grand Mother's name to my name.. However, my issue is not around this.. My issue is that I have just now realized that I have lost my original Share Certificate which was in my Grand Mother's name.. I strongly believe that this is in Societies possession and has been taken from me fradulently through a known person.. All I want to know is: 1) What should be my next steps? 2) Can the Society fradulently add another name on this Share Certificate without my consent? 3) How else can the Society mis use this Share Certificate against me?
Please help me urgently as I am extremely worried now..
Facts : Society has already accepted me as a Nominee at 50% and this is on records..
Guest
(Expert) 09 December 2016
First File a Police a Complaint Regarding the Missing Share Certificate and Obtain FIR from Police.You should also give a News Paper Publication Stating about the Missing Share Certificate and Mention any one who misuses it will be taken in to Legal Task.Consult a Local Good Advocate and Implement it Immediately.
Siddharth Dev
(Expert) 09 December 2016
I think your keys has some complications so I would like to suggest you to meet local advocate regarding consultation well somehow I am agreed with the expert
H.M.Patnaik
(Expert) 09 December 2016
You have stated that as per records of the Society, you are a 50% nominee of the property in question. Therefore,the society must have been in possession of some docs.
basing on which , the nomination was accepted . So, now along with the other nominee can apply for a duplicate copy of the Share certificate officially from the Society.Pl. make sure that the other nominee is not in possession of the missing certificates.Only after that, make a police complaint reg. Loss of such docs.
Kumar Doab
(Expert) 09 December 2016
It is believed that you are Hindu.
Confirm.
Kumar Doab
(Expert) 09 December 2016
You have been advised on to report'loss of share certificates'.
You have posted that:
"The case is around transfer of Membership from my Grand Mother's name to my name."
How did 50% share or why should 100% share devolve upon you?
Check if society has original share certificate.
If it does not have(and clears in writing) Report the loss of share certificate to society as well under proper acknowledgment.
Rajendra K Goyal
(Expert) 09 December 2016
Lodge FIR of the lost documents.
Know the procedure for getting duplicate copy of the certificate, complete the same and obtain duplicate certificate.
Rajendra K Goyal
(Expert) 09 December 2016
You asked:
1) What should be my next steps?
2) Can the Society fradulently add another name on this Share Certificate without my consent?
3) How else can the Society mis use this Share Certificate against me?
Reply:
1. Proceed to get duplicate certificate.
2. Cannot add without following procedure.
3. What are your assumptions how it can be misused otherwise.
Manoj Ahuja
(Querist) 09 December 2016
Thanks a lot all of you.. I have picked this up with a lawyer now..
Kumar Doab
(Expert) 10 December 2016
You are welcome.
Dr J C Vashista
(Expert) 12 December 2016
There is a procedure to obtain duplicate share certificate, which is given in the State Cooperative Societies Rules.
Generally a missing/lost police report (NCR)along with an affidavit to that effect and an application to the Society for issuance of duplicate share certificate is required. The society may charge a nominal fees (although it is not in rule) and issue duplicate share certificate.
Kumar Doab
(Expert) 12 December 2016
Your grandmother was owner.
How did 50% share or why should 100% share devolve upon you?
You have not clarified.
Nevertheless, since you have taken up the matter with your own counsel, your counsel must have advised you with considered opinion.
Kumar Doab
(Expert) 12 December 2016
Thanks for agreeing Mr. Goyal.
