valid, since
it did not conform to the prescriptions of Section 45ZA of the
Banking Regulations Act, 1949. It should have been in the
name ... extinguished because of
such nomination.
8. However, nomination referred to in section 45ZA,
coming under Part IIIB of the Banking Regulation
valid, since it did not conform to the prescriptions of Section 45ZA of the Banking Regulations Act, 1949. It should have been in the name ... extinguished because of such nomination.
8. However, nomination referred to in Section 45ZA, coming under Part IIIB of the Banking Regulation
creates beneficial interest,
subject to the provisions of sub-section (2) of Section 8 of the Act. "
20. In the decision in Ram Chander ... with regard to the scope of Section
45ZA of the Banking Regulation Act, the Apex Court held in paragraph 5 that :
"Section 45ZA
petitioner is that in view of the
provisions of Section 45ZA of the Banking Regulation Act,
1949 the amounts in the account are liable ... 5053/18
6
am of the opinion that the provisions of Section 45ZA of the
Banking Regulation Act cannot be pressed into service to
contend
under Sec.373 of the Succession Act to decide who is
most suited to get Succession Certificate is not taken away by
Sec ... under Sec.373 of the Succession
Act.
8. Though learned counsel for petitioner has raised yet
another contention that in view of Sec.45ZA
