Nomination for shares and debentures ensures nominee rights on death and enables valid company discharge upon transfer. The substituted Form 2B prescribes a standard Nomination Form for individual holders of shares, debentures or deposit receipts, requiring nominee name/address, date of birth for minors and guardian details, and signatures of holders and witnesses. Instructions limit nomination to natural persons holding on their own behalf, exclude non individuals and power of attorney holders, allow minor nominees with guardian details, permit non resident Indian nominees on a repatriable basis, state that nomination is rescinded on transfer or repayment/renewal, and confirm that transfer or repayment to a nominee is a valid discharge by the company; the form is to be filed in duplicate with the company/registrar/share transfer agents.
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Provisions expressly mentioned in the judgment/order text.
Nomination for shares and debentures ensures nominee rights on death and enables valid company discharge upon transfer.
The substituted Form 2B prescribes a standard Nomination Form for individual holders of shares, debentures or deposit receipts, requiring nominee name/address, date of birth for minors and guardian details, and signatures of holders and witnesses. Instructions limit nomination to natural persons holding on their own behalf, exclude non individuals and power of attorney holders, allow minor nominees with guardian details, permit non resident Indian nominees on a repatriable basis, state that nomination is rescinded on transfer or repayment/renewal, and confirm that transfer or repayment to a nominee is a valid discharge by the company; the form is to be filed in duplicate with the company/registrar/share transfer agents.
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