Incidentally, most of the societies with whom i have interacted are not aware of this "Common Seal " and use their round rubber stamp as a "Common Seal" on the Share Certificate , Conveyance Deed & other important document. So I think to give you an idea about this with "Common Seal" image and its use.
As per Old Model Bye-Laws [2009] Bye-Laws No. 73,74 & New Model Bye-Laws [2013] Bye-laws No 73,74 "Common Seal" use and their custodian is Secretary of the society.
The Image of Common Seal stamp and its print/effect on Share Certificate or on another paper.
- The "Common Seal" is the one made of brass metal disk, which leaves a raised depression imprint of the society name & registration number. There is no ink involved in it.
- It is hardly used, except for imprinting on the original or duplicate Share Certificate , Sinking Fund Certificate and Conveyance Deed.
- Without "Common Seal", the Share Certificate , Sinking Fund Certificate has no Legal standing.
- The preparing cost of "Common Seal" is approx. Rs. 500/- and is classified as an Asset of the Housing Society.
- Authority letter on the Society letter head with round stamp is required to prepared "Common Seal". Else one can be held for forgery and fraud.
- The "Common Seal" imprint specimen is to be registered with the area Deputy Registrar's Office. Registering the "Common Seal" of the Society means, typing a covering letter to the registrar informing him about the "Common Seal" as per the specimen of the seal imprint on the society letter head itself, and taking his/her acknowledgement for the society's record purpose.
- This has to do before the Share Certificate are issued.
- There is no specific form or fees to be paid for this.
- It is a criminal offense to use the "Common Seal " of a society by unauthorized persons, i.e. Other then Secretary of Society.
- "Common Seal" is to be surrendered to the Deputy Registrar's Office when the CHS is dissolved or de-registered for any reason. The Deputy Registrar may also seize the "Common Seal" of the Society signifying that the society is now under the control of the Government.
- If the "Common Seal"is lost or damaged, appropriate police complaint has to be registered. A secretary has to file an Indemnity Bond on Rs. 200/- stamp paper with the society pass appropriate MC resolution ratify the same in GB Meeting with proper notice & agenda and publish a newspaper notice in 2 newspapers. And prepare the new "Common Seal" and follow the above step to register the "Common Seal" in Dupety Registrar's Office.
our society is registered in 1975 . . do we need a common seal for the transactions in 2013? ?
ReplyDeleteyes you need Common Seal
ReplyDeleteWhat is the difference between seal of the society and common seal??
ReplyDeleteI think you have confuse between Round rubber stamp of Society & Common Seal of Society. Common Seal of Society is look like as shown above image and made of metal . In this your society Name & registration number written when you press it on paper its image is emboss on paper.
ReplyDeleteIn round rubber stamp of society also society Name & registration number written it is normally use in issuing NOC or any Letter
Secretary of the society has used a rubber stamp on my share certificate.( The place where seal of society is written)
ReplyDeleteIs it OK to use a rubber stamp on the share certificate ?
Is it compulsory to use a common seal on a share certificate ?
If my society does not have a common seal and is using rubber stamp, do u think i will be in a problem in future transactions
or during redevelopment of the society? ?
On front side of Share Certificate only Common Seal is required. When Share Certificate is Transfer on back side round rubber stamp will allow for endorsement. Without Common Seal on front side It has 'ZERO'' value of that Certificate. It will create problem in future
DeleteIf society has put round rubber stamp front side whts the problem arise?? please can u explain in brief??
ReplyDeleteJulian, 16 December 2014
ReplyDeleteDear Sir,
our society has adopted New Model Bye-Laws in August 2013 AGM. Our society has strength of 74 flats. Based old bye laws, Our MC has 7 members. When any member of MC resigns his place is filled by MC by co option basis, of their own choice.
Now, based on new bye laws, MC should have 11 members. how the balance 4 members are to be selected? Is it by co option basis OR MC should go for fresh elections ? Problem is, if co option is option then MC will select their own persons. THere won’t fair chance to others.
Could you please give your advice.
Second problem is our society has 74 flats. ( 40 – 2BHK flats & 34 – 1 BHK flats )
MC has 4-2BHK members & 3-!BHK members. When ever there any issue arises always it goes in 2-BHK flat owners favour. Hence 1-BHK flat owners have no say in anything. BECAUSE majority in MC and AGM is 2-BHK flat owners.
How to over come this problem.
Please advice.
Reply
Julian, 16 December 2014
ReplyDeleteDear Sir,
our society has adopted New Model Bye-Laws in August 2013 AGM. Our society has strength of 74 flats. Based old bye laws, Our MC has 7 members. When any member of MC resigns his place is filled by MC by co option basis, of their own choice.
Now, based on new bye laws, MC should have 11 members. how the balance 4 members are to be selected? Is it by co option basis OR MC should go for fresh elections ? Problem is, if co option is option then MC will select their own persons. THere won’t fair chance to others.
Could you please give your advice.
Second problem is our society has 74 flats. ( 40 – 2BHK flats & 34 – 1 BHK flats )
MC has 4-2BHK members & 3-!BHK members. When ever there any issue arises always it goes in 2-BHK flat owners favour. Hence 1-BHK flat owners have no say in anything. BECAUSE majority in MC and AGM is 2-BHK flat owners.
How to over come this problem.
Please advice.
Reply
By Election through Taluka Returning Officer now you can elect new MC Member.
DeleteSecond problem not understand. I assume you have Repair fund calculation problem for per flat collection. It should be per Sq. Ft basis
Dear Sir
ReplyDeleteRequest your help in below matter
I was a society Secretary for last 10 years, in my tenor i have done some structural change ( change of kitchen window ) in my house without permission from society or local authority.
In the last month new committee was formed and now new committee has given me notice for producing any permission for the structural change within 3 days or else they will take legal action against me.
What to do.