Q:Current status : Society is registered but Conveyance deed is not yet complete. For Bank loans, member asks for NOC that has the following clause ..That title to the said land and the building thereon is clear, marketable and free from all encumbrances and doubts."Under this circumstance, what supporting document(s) the Society should have to make such a statement in NOC ?Is the Society even has the legal authority to make such a statement specially when the conveyance deed is not complete ( and hence society is NOT the legal owner of the land).Request legal experts to provide advice in this regard.regards,Mihir
Latest Answer: According to Indian Cooperative Societies Act, a person does not require a no objection certificate (NOC) from the society at the time of transfer or sale of a flat. It is not at all mandatory.
