which the Apex Court held "Section 45ZA(2) merely
puts the nominee in the shoes of the depositor after his
death and clothes ... wherein the Hon'ble Supreme Court of India
while interpreting Sec.45ZA(2) of Banking Regulation Act
has held as follows:
"Sec.45ZA
that he is
nominee in the account in question.
13.2 Section 45ZA of The Banking Regulation Act, 1949 provides as
under :
"45ZA. Nomination ... whom any payment is made under this section."
13.2 A bare reading of Section 45ZA of The Banking Regulation Act, 1949 as
reproduced above
defendant no.1. In this
regard it is important to mention section 45ZA of the Banking
Companies Nomination Rules (1985) which reads as under ... Others reported as __ while
dealing with this issue has observed :
"Section 45ZA (2) merely puts the nominee in the shoes of
the depositor after
Internet And Mobile Association Of ... vs Reserve Bank Of India on 4 March, 2020
Equivalent
prescribed manner.
xxx xxx xxx xx
3
(emphasis added)
Section 45ZA(2) merely puts the nominee in
the shoes of the depositor after his death ... under Section 6(1) of the
4
Government Saving Certificate Act, 1959 is
materially and substantially the same as the
provision of Section 45ZA
money and Section 452C deals with the rights of a
nominee in respect of deposit of articles. Sub-Section (2) of Section
45ZA clearly provides ... Section 45ZE is conspicuous, whereunder the nominee does
not acquire any title in the Locker or its contents. Sub-section (3) of
Section 45ZC dealing
amount drawn by the third respondent. The relevant provision is Section 45ZA of the Banking Regulation Act, 1949, and the same is as under
held inter alia, referring to Section 370 of the Indian Succession Act, 1923 and Sections 45ZA(2) , 45ZC(3) and 45ZE of the Banking Regulation ... receive the fund, but the right to the fund itself and Section 45ZA of the Banking Act purports to confer on a nominee in respect
justified. But, in
terms of the provisions of section 45ZA of the Banking Regulation
Act, 1949, the petitioner is directed to remit the amount
money can be given to the petitioner only after maturity. Section 45ZA of the Banking Regulation Act, 1949 reads as following:--
"45ZA. Nomination ... varied or cancelled in the prescribed manner.
(3)to(4)......"
Section 45ZA clearly provides that where a deposit is held by a Banking Company
