A share certificate is one of the most important ownership documents for a flat in a cooperative housing society. It serves as proof of membership and indicates the number of shares allotted to a member. In some cases, flat owners may lose the original share certificate or it may get damaged. To address such situations, the Maharashtra Cooperative Housing Society Bylaws provide a procedure for issuing a duplicate share certificate.
Legal Provision under Bylaw 9(b)
According to Bylaw 9(b) of the model bylaws, the managing committee is required to issue a duplicate share certificate in cases where the original certificate is lost, burnt, soiled, torn, or disfigured. The duplicate certificate will be marked as ‘Duplicate’ and should carry all the details as per the society’s records.
Step-by-Step Procedure to Get a Duplicate Share Certificate
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Application to the Managing Committee
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The member must make a written application to the managing committee of the society.
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The application should clearly mention the reason for requesting a duplicate share certificate.
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Affidavit and Police Complaint
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If the share certificate is lost, the member must lodge a police complaint at the nearest police station.
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An affidavit stating the loss of the certificate and confirming ownership of the flat should also be prepared on stamp paper.
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In cases where the certificate is damaged, soiled, or disfigured, only an affidavit is required. A police complaint is not necessary.
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Committee Verification
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The managing committee will verify the details of the member in the society’s Register of Members and share allotment records.
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After verification, the committee will approve the issuance of a duplicate certificate.
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Issuance of Duplicate Certificate
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The duplicate share certificate must:
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Be marked as ‘Duplicate’ on the face of the document.
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Carry all the same entries as in the original certificate.
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Be sealed with the society’s official seal.
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Be signed by the Chairman, Secretary, and one committee member authorised by the managing committee.
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The society cannot deny issuance of a duplicate share certificate if due procedure is followed.
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The duplicate certificate carries the same legal validity as the original.
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The process may take a few weeks depending on the society’s internal meetings and verification.
Conclusion
If you have lost your share certificate, you should promptly lodge a police complaint, make an affidavit, and submit an application to your housing society’s managing committee. The committee is legally bound under Bylaw 9(b) to issue a duplicate certificate after proper verification. This ensures that your ownership records remain intact and legally valid.
