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Index II Document : Discrepancy in Society Name

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Index II Document : Discrepancy in Society Name

Last updated: July 7 2017
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  • Index II Document : Discrepancy in Society Name

    Hello Gentlemen,

    Need inputs on a scenario which has been mentioned below.

    We have a small society with 15 flats in PCMC area. Society was formed and registered couple of years before.

    Now, the couple of society members/owners have sold their flats and new owners have occupied the purchased flats.

    Now the real head ache has begun...

    Currently I am the chairman of the society.

    The new owners have requested for the share certificate from the society office. In return, we requested new members to pay the society entry fee, the nominal charges for issuing the share certificate and the copies of their Index II document.

    When new members submitted their Index II copy, we noticed a discrepancy in the Society Name mentioned in the Index II.

    Our society name is S Park Housing Co-op society however, in the Index II documents, which new members have submitted, contains the society name as S Park only.

    We have an advocate in our society and he's a member of society committee as well. He noticed the discrepancy w.r.t. the name of the society and advised that, not to issue share certificate to new members until and unless name of the society is changed to S Park Housing Co-op society instead of S Park only.

    Our advocate friend says, if name is not changed to appropriate one as mentioned above, it may lead to legal complications in future. I have requested our advocate friend to check for any laws or a provision in the legal books to check if it really matters if there's a discrepancy in society name in the Index II. He said, even though he's sure it makes a difference, he needs to refer the books.

    Now, the new occupants of the flat are insisting that, share certificate needs to be issued to them since the name discrepancy is there on Index II document only and the other registration documents have correct society name mentioned in them. New occupants have even contacted the lawyer who helped in the flat registration process to check if the name discrepancy can be corrected however their lawyer says, it doesn't make any difference.

    Now, being a chairman of the society, I am in a ambiguity whether or not to issue the share certificate to new occupants based on the current scenario.

    My questions are:

    Does the name of the society on Index II document really matters while issuing share certificate to new occupants? The name discrepancy can only be observed on Index II but rest of the registration documents have correct name of our society.

    If name in the Index II needs to be changed, what's the procedure for that and how much that would cost to new owners?

    Is there a provision in bye laws that, we can take a an exception and issue the share certificates?

    It would be really helpful, if members can advised on this aspect.

    Thanks in advance.

    Regards
    Last edited February 15 2017, 07:44 PM.
  • #2

    #2

    Re : Index II Document : Discrepancy in Society Name

    Hi, even I faced d similar type issue in index ii. If you want change index ii file rectification deed it will cost around 4000 rs per case. Both the original parties to agreement are required for rectification. Consult lawyer for this solution.
    Last edited July 7 2017, 10:27 AM.

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    • snehaa4280
      snehaa4280 commented
      Editing a comment
      Futher on igr Site form is available to do correction do check that also.
  • #3

    #3

    Re : Index II Document : Discrepancy in Society Name

    There is no need to issue a new share certificate. Just transfer the original share certificate to their name.

    Comment

    • #4

      #4

      Re : Index II Document : Discrepancy in Society Name

      Consult the Registrar first.
      Show him the Index 2 and society registration certificate and difference in name.
      Get it in writing from the Registrar and then proceed.

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