Nomination of securities: individuals may name natural-person nominees who receive transfer rights and payments upon the holder's death. Form 02B establishes a nomination process for individual holders of shares, debentures or deposit receipts to name natural-person nominees who will receive transfer rights and amounts payable on the holder's death; joint holders must all sign, non-individuals are ineligible, minors may be nominated with guardian details, and a non-resident Indian may be nominated on a repatriable basis. The form requires witness signatures and duplicate filing with the company/registrar; nomination is rescinded upon transfer or repayment/renewal of deposits, and transfer to or repayment in favor of the nominee is a valid discharge by the company.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Nomination of securities: individuals may name natural-person nominees who receive transfer rights and payments upon the holder's death.
Form 02B establishes a nomination process for individual holders of shares, debentures or deposit receipts to name natural-person nominees who will receive transfer rights and amounts payable on the holder's death; joint holders must all sign, non-individuals are ineligible, minors may be nominated with guardian details, and a non-resident Indian may be nominated on a repatriable basis. The form requires witness signatures and duplicate filing with the company/registrar; nomination is rescinded upon transfer or repayment/renewal of deposits, and transfer to or repayment in favor of the nominee is a valid discharge by the company.
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