https://www.taxtmi.com/caselaws?id=104855 Nomination under the Government Savings Certificates Act entitles the nominee to receive payment on the holder's death and gives the Government a valid discharge, but it does not by itself confer beneficial ownership. The statutory scheme, read with sections 7 and 8, preserves the rights of the executor, administrator or other legal representatives to claim the amount remaining after lawful deductions. The nominee receives the certificate proceeds for and on behalf of the estate, and the amount devolves under the applicable law of succession rather than by nomination alone. en-us Wed, 16 Aug 2000 00:00:00 +0530 Tue, 03 Jun 2014 16:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104855 Nomination under the Government Savings Certificates Act entitles the nominee to receive payment on the holder's death and gives the Government a valid discharge, but it does not by itself confer beneficial ownership. The statutory scheme, read with sections 7 and 8, preserves the rights of the executor, administrator or other legal representatives to claim the amount remaining after lawful deductions. The nominee receives the certificate proceeds for and on behalf of the estate, and the amount devolves under the applicable law of succession rather than by nomination alone. Case-Laws Companies Law Wed, 16 Aug 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104855