When there is nomination as per section 45ZA of Banking Regulation Act 1949,
the bank has to release the amount to the nominee and allowed ... bank is bound to release the amount to the
nominee under section 45ZA of the Banking Regulation Act. The respondent
also placed reliance on judgment
cancelled in the prescribed manner.”
14. A bare reading of Section 45ZA of the Banking Regulation Act,
1949 as reproduced above shows that any depositor ... wherein
the Hon'ble Supreme Court of India while interpreting Sec.45ZA(2) of
Banking Regulation Act has held as follows:
“ Sec.45ZA
case (cited supra), has observed as follows:
“17. As far as Section 45ZA of the Banking Regulation
Act is concerned, the above section indicate that ... bank,
they cannot ignore the same merely on the basis of Section
45ZA of the Banking Regulations Act. Even though 45ZA
contained non obstante clause
case (cited supra), has observed as follows:
“17. As far as Section 45ZA of the Banking Regulation
Act is concerned, the above section indicate that ... bank,
they cannot ignore the same merely on the basis of Section
45ZA of the Banking Regulations Act. Even though 45ZA
contained non obstante clause
India (RBI). The learned Standing
Counsel, apart from relying upon Section 45ZA of
the Banking Regulation Act, 1949, also placed
reliance upon the Banking Companies ... There is no legal bar in construing the
word “person” in section 45ZA(1) of the Act
bearing in mind its definition
case (cited supra), has observed as follows:
“17. As far as Section 45ZA of the Banking
Regulation Act is concerned, the above section indicate
that ... bank, they cannot ignore the
same merely on the basis of Section 45ZA of the
Banking Regulations Act. Even though 45ZA contained
non obstante clause
follows:
“17. As far as Section 45ZA of the Banking
Regulation Act is concerned, the above section
indicate that the amount shall be paid ... bank, they cannot ignore the same merely on
the basis of Section 45ZA of the Banking
Regulations Act. Even though 45ZA contained
non obstante clause
that, all the monies receivable by the nominees by virtue of Section
45ZA(2) would form part of the estate of the deceased depositor ... wherein it has been held that Section
45ZA(2) merely puts the nominee in the shoes of the depositor after his death and
clothes
nomination
form whereby Rajammal nominated the plaintiff as per Section 45ZA of
the Banking Regulation Act, 1945 and Rule 2 (1) of the Banking
Companies
Section 45 Z A of the Banking Regulation Act,1949 and it is relevant to extract Section 45 Z A of the Act:
45ZA:Nomination
