I have read many of your replies in connection with co-operative law in maharashtra and I am sure you will give me advice in my matter.
I am from Pune , Maharashtra. My society registration number is PNA/PNA(1) HSG/7324/2005-2006 dated 19.05.2005. Society name is Balwantpuram Shefalika Heights CHS Ltd.
After formation of society by builder the then committee issued Share certificates to members based on Builders records which was based on his agreements with members. The order of names was as per agreements only.
After the new amendment in bye laws in 2013 society had to issue additional five share certificates to members again. The current committee took a decision that share certificates will be issued as per Index II especially for order of names. Our agreements were registered in 2000 or later. At that time the Index II was not at all known to members and it was treated as receipt of lodging the agreement for registration. In many cases there are mistakes in Index II especially the order of names and there was no process of correction immediately at the time of registration. These documents were collected from the sub-registrar by the builder and then given to flatowners later after 3/4 days.
Many members are facing this problem and have informed the society in writing also. The society is not changing their stand of issuing share certificates on the basis of Index II.
All these days the society records were maintained on the basis of agreements and Form I and J were maintained in this manner only. Election records were also submitted to Dy. Registrar , Pune 1 at the time of elections based on old records. With the sudden change of decision of the current committee, whole 15 + years records will be changed.
In my personal case the order of names in Index II has been given in reverse order than in agreement. My first certificate and second certificate will be different for order of names. Can there be any problem in future for me or my daughter for selling the flat? Is there any provision in bye laws or MS Co-operative Act? What is the remedy for me?
I C Naik
The law is the Share certificate is an evidence of membership of the Cooperative Housing Society Where there are more than one names on the Share Certificates the Number one holder is a main member the others are Associate members if they were ao admitted by the Committee. There is no change in this and the Society making any changes will not prevail.