Share certificate lost by society

Dear Stanley,

Hi! This is Advocate Rohit Dalmia from Mumbai. There are certain procedures as per the Bye Laws which a member has to follow:

1. Incase the Original Share Certificate is Lost/Misplaced then it is required that a member has to inform the Secretary of the Society in writing and asking to issue the Duplicate Share Certificate.
2. The Member is then Required to submit notarized indemnity bond stating that the member shall be liable to indemnify the society against all losses, claims, actions and shall also undertake that the share Certificate is not mortgage or pledged for Home Loan or for any other Loan.
3. The Society shall publish in the Local News Paper inviting objections against issuing Duplicate share Certificate for the Member. The Costs for Publishing in the Newspaper shall be reimbursed by the Member to the society.

In your case since the Society has lost the Original Shre Cetificate you may ask them to do away this formality. But even if they persist then you may get the same done otherwise the Share Certificate shall not stand transfered in your name it would get delayed.

Incase you need any Legal Assistance You may contact on 9324538481. 

Regards,

For Loss of society share certificate ads to be placed in the newspaper I suggest you log on to www.publicnoticeads.in  

They charge a minimum cost of 890/- for publishing in 2 newspapers. Good service i should say.