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Is the share certificate issued by a Registered Co-operative society will be valid title deed?

April 26, 2017Certificate Co-operative deed issued registered share Society title valid

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Is the share certificate issued by a Registered Co-operative society will be valid title deed?

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I am a member of a Registered Co-operative Society who allotted a flat in my name. They issued a share certificate of Rs. 100/- along with allotment letter, possession certificate etc. I have taken a loan from a bank and bank is insisting for creation of Equitable Mortgage over the property by executing a Registered sale deed. Now the question is whether sale deed is required for E.M. when a flat is allotted by a Regd. society. Is the share certificate is not a valid title deed for the purpose. What are the documents required for Equitable Mortgage in case of a flat allotted by the Regd. co-operative Society.