Share Certificate is considered to be an extremely important document issued to the member of the society the member who has lost his Original Share Certificate should make an application to the Society with Indemnity bond stating that he has misplaced/ lost his Original Share Certificate. On receipt of the application the Secretary should call a Managing Committee Meeting for issuance of duplicate Share Certificate to the members.
They also need to quote the folio number and details of share certificates to the company for their reference. For further issuance of a duplicate share Certificate, a newspaper advertisement is required to be given by the Company. The Advertisement has to be published in at least 2 Newspapers
The member must agree to indemnify the society for all cost, expenses that with regards to the issue of a Duplicate Share Certificate. The member should also give an undertaking that he has not mortgage or pledged the Share Certificate with any financing agency.
It is important that the society may invite objections by affixing a notice on the notice board of the society. If no objections are received within fifteen days from the date of affixing the notice on the notice board of the society then the society may proceed to issue a Duplicate Share Certificate.
If your society share certificate gets lost / misplaced the society issues duplicate share certificates after 14 days once it appears in one English & one regional language newspaper.
If you have lost your equity share certificates like Tata Power, Tata motors, Ranbaxy etc. and are applying for loss of equity shares than you may try our equity shares lost page for more details.
Procedure to get Duplicate Share Certificate of Society
To begin with, you can submit an application for duplicates, along with an indemnity bond for loss of share certificate of housing society to your society. The latter is a contract, wherein you promise to make good any loss that may arise in case the original instrument is presented.
Since some people mortgage originals as security with banks and then ask for duplicates, the society may ask you to give an undertaking that you have lost the originals in order to avoid fraud.
The society will then invite objections by affixing a notice to its notice board as well as through a notice in the newspaper. You may be asked to foot the associated costs, and some societies even expect you to publish the share certificate lost ad on your own.
The Intention of the society is to invite claims and objections from any claimant / objector for issuance of share certificate to the member. If no objection / claim is received than the society proceeds to issue a duplicate share certificate.