1. It was absolutely illegal to issue Share Certificate in name of Builder, "IF" the Index-II (Registered Title Ownership document) was in the name of the Land-Lord. The Society shall give proper Notice to Builder to produce his Index-II and IF builders does not produce then simply publish Newspaper notice and cancel the said Share Certificates.
2. AFTER above, Society has to mandatorily issue new "ORIGINAL" Share Certificate to LandLord, AFTER verifying the original deed alongwith Index-II.
3. Society can initiate Recovery of outstanding dues of members under the provision of section 101 of the MCS Act, by following proper procedure of law.
Keep Smiling .... Hemant Agarwal