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8. Mr. Pramod B. Agarwala, the learned Counsel for the third respondent submitted that having regard to the provisions of the Banking Regulations Act, 1949, the effect of nomination is that the nominee becomes the absolute owner and it would amount to a testamentary disposition and the third respondent is fully justified in drawing the sum of Rs. 32,36,252.75. The third respondent also submitted that the petitioners are in possession of the enjoyment of the house property and, therefore, pending the consideration of the question, the petitioners cannot claim any right in the amount drawn by the third respondent. The relevant provision is Section 45ZA of the Banking Regulation Act, 1949, and the same is as under: