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Homiyar (Director Purchase)     28 September 2012

Share transfer

Dear Sir

This is regarding a Flat which I bought in Mumbai
The sequence of event are as follows:

a) Society gave NOC to the seller on 20.09.11 to sell the flat
b) we registered sale deed on 27.09.2011
c) we applied for bank loan & on 16.10.2011society gave a letter to the bank stating that the flat is free of all encumbrance and liabilities.
d) loan was sanctioned & full payment was made in the first week of Nov 2011
e) Share Transfer application was submitted to society on 22nd Nov 2011
f) Transfer cheque of Rs 25600.00 was deposited / credited on 14th Dec 2011
g) society kept quite & gave evasive answers regarding transfer of share certificate like meeting is not held & secretary is out of station etc.
h) after continuous follow up finally on 01.01.2012 the secretary showed me a letter dated 6th Dec 2010 received by the society from Sales Tax Office which states that " Vat dues are pending recovery on the said flat & we request the society not to allow the present owner to sell the flat" but society did exactly the opposite & allowed the then owner to sell the flat to us by issuing NOC on 20.09.11 in spite of a letter from sales tax received by society 9 months back.
i) when confronted as to why they are showing this letter after the deal is completed and full payment is made to the seller, they answer verbally that by mistake we have issued NOC.

We have filed an appeal with Dy Registrar under section 22(2) of Maharashtra sate Co Op Act pending judgment.
Even if the share certificates are transferred by order from Dy Registrar the sales tax matter remains open and can sales tax attach my flat in future.

Kindly advice the next step I should take from here.
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 1 Replies

Gopikrishna Kalyanam (Lawyer)     28 September 2012

Dear Homiyar,

Filing Caveats would be a good idea.

Best Wishes


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