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1 - 10 of 16 (0.23 seconds)The Banking Regulation Act, 1949
Section 39 in The Banking Regulation Act, 1949 [Entire Act]
Section 39 in The Code of Civil Procedure, 1908 [Entire Act]
B.M. Mundkur vs Life Insurance Corporation Of India And ... on 4 September, 1975
11. I am in respectful agreement with
these views, because they accord with the law
and reason. They are supported by Section
44(2) of the Act. It provides that the
commission payable to an insurance agent
shall after his death, continue to be payable to
his heirs, but if the agent had nominated any
person the commission shall be paid to the
person so nominated. It cannot be contended
that the nominee under Section 44 will receive
the money not as owner but as an agent on
behalf of someone else, vide B.M.
Mundkur v. Life Insurance Corporation [AIR
1977 Mad 72 : 47 Com Cas 19 : (1977) 1 MLJ
59 : ILR (1975) 3 Mad 336] . Thus, the
nominee excludes the legal heirs."
Ram Chander Talwar & Anr vs Devender Kumar Talwar & Ors on 6 October, 2010
18. The Hon'ble Apex Court in Ram Chander
Talwar and Another Vs. Devender Kumar Talwar
and Others reported in (2010)10 SCC 671, considering
the legal position of nomination for the deposits held in
para No.5 as under;