Chanced upon this rather interesting decision. Could be of help / use to some
- Nominee of Deceased Member is absolutely entitled for the Ownership by transfer.
- Co-op. Society can not challenge the right of Nominee. This is a a settled Law of the land.
- No legal heirship, Court order or Succession Certificate or Letter of Administration is required.
HOWEVER, there is a catch !!- read on to know !
Case : Indrani Wahi versus Registrar of Coop Societies & Ors. in Civil Appeal No. 4646 of 2006.
Here’s the link to download it:
https://main.sci.gov.in/jonew/judis/43554.pdf
Para 15 , end(Page 16 and 17 ) says :
“It is also essential to notice, that the rights of others on account of an inheritance or succession is a subservient right. Only if a member had not exercised the right of nomination under Section 79, then and then alone, the existing share or interest of the member would devolve by way of succession or inheritance. “
Further , Para 18 :
Rule 128 of the 1987 Rules also leads to the same inference. Inasmuch as Rule 128 aforementioned provides, that only in the absence of a nominee, the transfer of the share or interest of the erstwhile member, would be made on the basis of a claim supported by an order of probate, a letter of administration or a succession certificate (issued by a Court of competent jurisdiction)
BUT, still further :
Para 20 : That, would have no relevance to the issue of title between the inheritors or successors to the property of the deceased. Insofar as the present controversy is concerned, we therefore hereby direct `the Cooperative Society’ to transfer the share or interest of the society in favour of the appellant – Indrani Wahi. It shall however, be open to the other members of the family (presently only the son of Biswa Ranjan Sengupta – Dhruba Jyoti Sengupta; we are informed that his mother – Parul Sengupta has died), to pursue his case of succession or inheritance, if he is so advised, in consonance with law.
So, in essence, the Society has to transfer shares. And the inheritors have to prove their stake. The two matters can not be connected.
Interesting , surely , depending upon which side are you 🙂
