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FAQ: Legal recourse against non-receipt of share certificate – Property Hotline
Posted
May 25, 2016
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2:48
3:41Now PlayingExpert: Nirav Jani, Associate partner, Hariani & Co
Question: My society has not issued share certificates in spite of being formed 3 years back. All my payment and paper work is complete. However, despite regular reminders, the share certificates have not been released to anyone. Can I stop my monthly maintenance payment in protest against non receipt of the share certificate? What penalties can be levied by the Deputy Registrar in this case?
Answer: Presuming the society is in Maharashtra, you can proceed by making an application to the Registrar, to initiate proceeding as per Section 79(2). As per the Maharashtra Cooperative Housing Societies Act, the Registrar may call upon the officer or officers of the society whom he considers to be responsible for not complying with the provisions of this Act, the rules or the bye-laws, or the order made under sub-section (1).
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