Legal Question in Real Estate Law in India

Please answer my questions given below:

In a Cooperative Housing Society Ltd

1. For a Share Certificate with joint names on the certificate how many Shares are

required to be issued, is it Five Shares for Rs. 50/- per share?

2. Or Is it Five Shares for Rs.100/- per share

3. Or is it Ten Shares for Rs. 50/- per Share


Asked on 7/17/13, 5:49 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

17.07.2013

Dear Sir / Madam,

As per the old byelaws, for Societies registered in Maharashtra in or prior to 1990, each member (whether sole or joint) was issued 5 shares of Rs. 50/- each amounting to Rs. 250/- (Point 1 of your query).

For Societies that have been formed after 1990 and have adopted the new byelaws, each member (whether sole or joint) is to be issued 10 shares of Rs. 50/- each amounting to Rs. 500/- (Point 3 of your query).

Regards,

Read more
Answered on 7/17/13, 6:47 am


Related Questions & Answers

More Real Estate and Real Property questions and answers in India