Sir, l and my wife are jointly the members of the CHS situated at Kandivali,west,Mumbai.
The bank has lost my original share certificate issued by the society. The bank has issued the letter to the society for the lost/ misplaced of the share certificate of said flat in year 2003.The bank authority lodged FIR on dated 30/05/2003.
The bank has also made affidavit for the same. We have submitted the above mentioned documents to the society along with request application for issuing duplicate share certificate.As the original share certificate is lost by the bank, is it necessary to submit Indemnity Bond by the member on required stamp paper to the society. please guide.
I C Naik
Depends on provision in your Society Bye Laws.
As per latest Model Bye Laws 2014 provision is this.
- a.) A Share Certificate, prescribed in bye-laws, bearing distinctive number and indicating the name of the Member, the number of shares issued and the value paid there on, shall be issued by the Society to every Member for the shares subscribed by him, within a period of six months of the allotment of the shares.
- b) the Committee of the Society shall issue a duplicate share certificate, “So Marked”, on application to its members on production of following documents.
- if the share certificate is lost – copy of police complaint lodged, and an affidavit in that regard.
- if the share certificate is soiled, burnt, torn, disfigured etc. affidavit in that regard.
Please verify with the Secretary if 2014 Model was adopted or else the old bye laws will apply.
