respondent bank to nominate the present petitioner for the purpose of Section 45ZA of the Banking Regulation Act, 1949 (hereinafter referred ... learned counsel for the bank could not dispute the applicability of Section 45ZA of the Banking Regulation Act, 1949.
6. We had the occasion
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
nominee of the said account in terms of Section 45ZA of the
Banking Regulation Act, 1949 and the Master Circular on Customer
Service in banks ... signature on the form.
18. The defendant no. 1 relied upon Section 45ZA of the Banking
Regulation Act, 1945 read with Master Circular dated
learned counsel for the petitioner has relied on the provisions of Section 45ZA of the Banking Regulation Act, 1949 (hereinafter referred
entitled to receive the money in the FDRs as per Section 45ZA of the Banking Regulation Act, 1949 (hereinafter referred ... appearing on behalf of private respondents and the State submit that Section 45ZA of the Banking Regulation Act cannot over rule the laws of succession
Case Law/Precedent Held
Sarbati Devi & Anr. v. Usha Nomination under Section 39
Devi, (1984) 1 SCC 424 of the Insurance ... Nomination made under
v. Devender Kumar Talwar provisions of Section 45ZA
& Ors., (2010) 10 SCC 671 of the Banking Regulation
Act, 1949 entitled
recognising the rights of the petitioner as nominee, in terms of Section 45ZA of the Banking Regulation Act, 1949.
5. In Cdr. Vineet Kumar Sharma ... Bank may honour the request of the petitioner in terms of Section 45ZA of the Banking Regulation Act, 1949, as expeditiously as possible, preferably within
money.
5. In that fact, considering the statutory law contained in Section 45ZA of the Banking Regulation Act, 1949 and the precedential law noted
make nomination in favour of any person.
3. Section 45ZA of the Banking Regulation Act, 1949 being a provision to allow a nominee to receive
accordance with law and keeping in mind the provisions of Section 45ZA of the Banking Regulations Act, 1949, preferably within a period of four weeks
