1) it is not necessary that society will issue NOC in the format prescribed by the bank
2) in any case society has issued NOC to sell the flat
3) in case society refuses to transfer the flat complain to the registrar against the society
Share certificate
I have recently sold my flat to a Muslim buyer and had asked the society to provide me with an NOC which they initially refused and now after 2 months they have given me an NOC in which there is no mention of no outstanding dues/ no share certificate has been issued. I had provided to the buyer’s bank a printed copy of the share certificate that wasn’t issued as there was a dispute between the committee members who refused to sign it. Now our society has separated and registered separately in May 2019 but no share certificate has yet been issued. Now when the buyer submitted the transfer set along with a copy of the agreement the society has raised a point saying that how I could have given a copy of the share certificate that wasn’t signed and issued by the society. The printed copy was given only as proof that when I had purchased the flat there was a share certificate printed but not issued. I have made it clear to the bank manager of the buyer that when the new certificate will be issued it will be given to them. Also the society refused to give the NOC in the format prescribed by the buyer’s bank saying that they do not know the buyer and hence will not give it. Kindly urgently provide me with a resolution for this problem. Also note that the society has been harassing me like this for the NOC for the past two months because the buyer is a Muslim. Kindly urgently help me. Rashmi De
Asked 4 years ago in Property Law
Religion: Hindu
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7 Answers
Hello,
- The Society cannot refuse to provide NOC just because it does not know the buyer. You may introduce the new buyer to the Society if they want to 'know' him. You must get a legal NOtice issued to the bank demanding the issuance of the NOC without any delay. Let the buyer give an undertaking to his bank that he will submit the original Document as and when issued to him by the Society.
- The buyer must also issue a legal notice to the Society regarding the non-acceptance of the transfer application on basis of the copy of the Share Certificate that was nevr issued and the Society is at fault having not issued the new certificates.
First you obtain a NOC for you to sell the property.
If you have not been issued with a share certificate, you demand that also.
If there's no proper response from the society you may issue a legal notice demanding the same.
If the society is not responding to the legal notice also then you can take up the matter to the consumer forum for relief and compensation too.
The ultimate solution is to move the cooperative court or consumer court.
Which of the two options would best serve your purpose, can only be ascertained, only after an exhaustive consultation session with you.
You need to visit me for exhaustive consultation. Only then can I assist you in appropriate litigation.
I'm based in Mumbai/ NaviMumbai just as you are.. So it shouldn't be much difficult for you to visit me.
९८२०८९७८८४. (Nine eight two zero eight nine seven eight eight four)
NOC is not mandatory.
The sale made by you is defective since you don't have a valid share certificate.
Write to the society to issue you a proper share certificate duly signed by authorised signatories of the society.
After receiving the valid share certificate make a fresh sale deed and cancel the existing one. Stamp duty paid earlier will be adjusted for new deed in respect to the same property.
Communicate the same to your buyer and his banker for information.
1. The Society has ample opportunity to delay the matter indefinitely on some ground or other.
2. It will be prudent on your part to negotiate with the Society to settle the matter.
The share certificate was unsigned and unstamped and not even issued
So it hardly matters if a copy was given to the buyer!
Society is unnecessarily making an issue out of it
As regards the bank's format, the society is correct since it is not obliged to follow the format of the bank with which it has no connection
As regards non mention of no dues in the NOC letter, even that makes no difference since you can submit the paid maintenance Bills to the buyer or his bank
As the society has already given the NOC your grievance about it harassing you since buyer is a Muslim does not survive
