1. The share in question is the share of a Co-Operative Housing Society formed by its members who are essentially owners of the flats for the maintenance of which the said Society has been formed,
2. No body other than the flat owners can be a member of the society,
3. All the members buy shares of the society and are issued one share certificate each,
4. These share certificates are transferred in the name of thrid parties when and only when the third parties buy the flats from the present flat owners by executing and registering Sale Deed after taking NOC from the Society,
5. Such share certificates of Co-Operative Housing Societies are not traded in the market to be operative in any way,
6. To make it operative, the present owner shall have to surrender it to the society with an application for transferring in favour of his buyer and if he has already collected a duplicate of the same share certificate after affirming under affidavit that the original was lost, the the said original share certificate can not be further produced by him for transferring it in some other's name,
7. Here, no share certificate, whether original or duplicate, can be made operational without the transfer of title of the flat in some other's name.