Issue of duplicate certificate in housing societies
By Legal Bureau
Issue of duplicate certificate
If any application is received by the managing committee for issue of duplicate share certificate the managing committee has to insist on the member to give undertaking.
The co-operative housing societies has to follow the procedure laid down in the Act, Rules or bye-law and not to go according to the provisions of Companies Act, while issuing duplicate share certificate.
Undertaking should be given by a member of co-op. Housing society on five Rupees stamp paper.
1. I, Shri./Smt………the member of the ………..Co.op.Housing Society Ltd. at………hereby solemnly declare that I had purchased FIVE SHARES of Rs. FIFTY each of the above mentioned society bearing Nos….to……… I hereby further declare that the share certificate No………dated………for the above said Five Shares issued to me by the said society has been lost, mislaid or is not traceable.
2. I hereby further state that I have not transferred the said share certificate to any other person/Persons nor created any charge or mortgage on it in favour of any Bank, Financing Agency, Employer or any other person or persons.
3. I hereby further solemnly declare and undertake to agree to indemnity or keep the society indemnified against any risk as to damages, costs and consequences arising out of any legal proceedings started against me as a result of my unlawful dealing with the said share certificate, in which the society would be involved.
4. I hereby undertake to surrender the original share certificate to the society, if traced subsequently.
Date : Signature of the Member
Name of the witnesses with their address
1. Signature of witness
2. Signature of witness