pagur desai (properiet) 04 June 2010

whether flat no. to be mentioned on the share certificate

We have recently formed a society. There are two opinions of the managing committee members for issue of share certificate. Please advice whether the members flat no. is to be mentioned on the share certificate or not.

Secondly, if one member owns two flats are 2 seperate share certicates (for each flat ) are to be issued ?

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2 Replies

Daksh (Student) 04 June 2010

Dear Pagur,

For practical reasons it is beneficial to have membership on the basis of Share Certificates. Otherwise you may mention in the Society Rules that a person having more than one unit shall have a singular voting rights.

Best Regards

Daksh

Bharatkumar (ADVOCATE ) 17 June 2010

Yes, U mentioned members Flat No. on the share certificate but It is not compulsory.

Yes, seperate share certicates (for each flat ) are to be issued by Society. Therefore one member owns two flats are 2 seperate share certicates (for each flat ) are to be issued by Society.