2017-TIOLCORP-05-HC-MUM-CA
Shakti Yezdani Vs Jayanand Jayant Salgaonkar
Whether the monies receivable by the nominee of a depositor would form part of the estate of the deceased depositor and would be governed by the law of succession by which the depositor was governed - YES: HC
Whether nominee gets absolute title to the property subject matter of nomination - NO: HC
Whether nomination would override the law in relation to testamentary or intestate succession - NO: HC
Whether the purpose of Companies Act is to ensure that the deceased shareholder is represented by someone rather than to provide for a mode of succession - YES: HC
Whether a testamentary Court dealing with the issue of grant of probate or letters of administration has jurisdiction to decide the issue as regards the title of the deceased testator to his assets - NO: HC
Whether the provisions regarding nomination are made with a view to ensure that the estate of the deceased subject is protected till the legal representatives of the deceased take appropriate steps - YES: HC
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Appeal dismissed: BOMBAY HIGH COURT