Chs share certificate

Opinion is sought on the following:

1. Is issuance of share certificate essential for applying and obtaining conveyance? 
2. Can a Registered Co-operative Housing Society within Mumbai city limits, in the absence of receipt of formal written information from MHADA, confirming the names of individuals to whom they have sold/allotted the flats, pending conveyance of land, issue and handover share certificate to the members?
3. If answer to point 2 is YES, what is the procedure that needs to be adopted?
4. If answer to point 2 is NO, is there a way out legally?

Thanks