Bhairav Sanghvi
I am from Surat, Gujarat request you to give us a solution for a query as under.
Sir, I & my friend wants to purchase an Old Industrial plot in Surat; the same property is coming under Co-operative society. Now, how can we become joint holder in a share certificate?
Also, is there any provision in law where we become joint holders? If yes then please suggest us the procedure.
I feel & believe that your suggestion will surely help us to resolve the issue.
I C Naik
Form a Partnership which has the object of purchasing Industrial Plot among other things you want to do with the plot and buy the plot from an existing member on mutually agreed terms. The Seller should obtain in principle written approval of the Committee of the Society (insist for a copy of the Resolution of the Committee Meeting) to sell you his plot and shares before executing a purchase agreement or even paying a token money.