Pls. Clarify my query. Can a share holder in a co-op hsg society purchase a flat without surrendering his share. Note that this shareholder possesses a share and not flat. Now he has bought a flat and want us (managing committee) to transfer the purchased flat in his name which we have refused. we told him to surrender first his share certificate held by him to us which he is unwilling to do. pls guide.
State –Maharashtra
I C Naik
As long as a person eligible to be admitted to membership pf housing society has a minimum number of shares and also a flat, what is the problem is not clear at all.