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Pundalika Achyutha Bhat   10 February 2022

Illegal possession of member's share certificate by a co-operative housing society and it's conseque

Do possession of a member's share certificate by a co-operative housing society without justifications is likely to be treated as illegal possession ?. 

If it is treated as illegal possession by the housing society then what are its consequences on the housing society ?.

 



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 2 Replies

Anaita Vas   11 February 2022

Respected Pundalika Achyutha Bhat,

Housing boards provide share certificates, which are legal documents or certificates. It verifies that the resident is the rightful owner of cooperative housing society shares. It is provided at no cost to members of housing societies and is required by their by-laws.

Possession of a member's share certificate by a co-operative housing society without justifications is likely to be treated as illegal possession.

However, it must be noted that the original copy of the share certificate will be with the Secretary or any other person of authority as mentioned by the board.

You can directly ask a person to return your share certificate if he/she has taken it with no justification or you can contact the police or the board regarding your inconvinience.

 

Regards,

Anaita Vas

 



 

Pundalika Achyutha Bhat   12 February 2022

Thanks a lot for your reply.

With regards - Pundalika Achyutha Bhat.


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