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1 - 3 of 3 (0.17 seconds)Ram Chander Talwar & Anr vs Devender Kumar Talwar & Ors on 6 October, 2010
In Ram Chander Talwar & Anr vs Devender Kumar
Talwar & Ors.(2010) 10 SCC 671, the Hon'ble Supreme Court held as
under :
"Section 45ZA(2) merely puts the nominee in the shoes of
the depositor after his death and clothes him with the
exclusive right to receive the money lying in the account. It
gives him all the rights of the depositor so far as the
depositor's account is concerned. But it by no stretch of
imagination makes the nominee the owner of the money
lying in the account. It needs to be remembered that the
Banking Regulation Act is enacted to consolidate and
amend the law relating to banking. It is in no way
concerned with the question of succession.
The Banking Regulation Act, 1949
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