Selling of property once sold by cooperative society

Mainak Dutta (Querist) 26 July 2024 This query is : Resolved
Hi, I live in Kolkata, West Bengal. My father is trying to sell an old flat of ours which was allotted to him though a cooperative society on 1986. Now the buyer is trying to get a loan and the bank is asking for an NOC from the cooperative society, but that particular society doesn’t exist anymore. All of the members died and no new body was formed. What will be the next step here?

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This discussion addresses the challenge of selling a flat originally allotted by a cooperative society that no longer exists. The primary issue is obtaining a No Objection Certificate (NOC) from the defunct society for the buyer's bank loan. Potential solutions include approaching the Registrar of Cooperative Societies for an NOC or providing an indemnity bond to cover future liabilities. The thread also raises questions about how maintenance, utilities, and repairs were managed without an active society body.

T. Kalaiselvan, Advocate (Expert) 27 July 2024
If the cooperative society is not existing anymore then you may appraoch the registrar of cooperative societies to obtain NOC otherwise you may have to give an indemnity bond indemnifying the loss or any litigation in future in this regard

P. Venu (Expert) 27 July 2024
Has the Cooperative Society been wound up following the due procedure?

kavksatyanarayana (Expert) 27 July 2024
Without the society body, how do you pay the maintenance fees? Then what about the water supply and repairs for all these years? Did anyone in society take steps to form a new body or complaint to the Jt./Dy.Registrar of Cooperative Societies of your district?

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