been appointed nominee in the prescribed form as required under Section 45ZA of Banking Regulation Act, and Rule 2(1) of the Banking Companies (Nomination ... provisions of sub-section (2) of Section 8 of the Act."
6. Although the wording Section 45ZA of the Act is not identical
amount drawn by the third respondent. The relevant provision is Section 45ZA of the Banking Regulation Act, 1949, and the same is as under
restricting any transfer of rights to a
non-blood relative. Similarly, under Section 72 of the Companies Act,
2013, holders of shares and debentures ... shall be
paid in the event of his death. Even under Section 45ZA of the
Banking Regulation Act, 1949, nomination for payment of depositors
Devender Kumar Talwar and Others5 , has while interpreting subsection
(2) of Section 45ZA of the Banking Regulation Act, 1949 has held that
nominee only steps ... owner of the money lying therein as
follows:
"5. Section 45ZA(2) merely puts the nominee in the shoes of the
depositor after
bank in the following terms: -
"17. Having regard to the Section 45ZA of the
Banking Regulation Act, the settled position ... following paragraphs
establishes this fact: -
"14. A bare reading of Section 45ZA of the
Banking Regulation Act would show that any
depositor, with
pursuant to which national saving certificates were
issued.
10.2 The provisions of Section 6 and 8 were relied upon to suggest that the
ratio laid ... Section 6(1) of the 1959 Act are pari materia with Section
4(1) of 1873 Act. As a matter of fact, Section
