https://www.taxtmi.com/caselaws?id=113363 A valid nomination for dematerialised shares under the Companies Act and the Depositories Act vests all rights in the nominee to the exclusion of other claimants. The statutory scheme makes the nominee entitled to the full bundle of rights on the death of the beneficial owner, and the last valid nomination prevails. This position is distinguished from regimes such as insurance and co-operative society law, where nomination generally secures transmission or payment but does not itself confer ownership. The legal effect is that a properly made nomination for dematerialised securities overrides competing claims by heirs or legal representatives. en-us Tue, 20 Apr 2010 00:00:00 +0530 Fri, 10 Oct 2014 16:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=113363 A valid nomination for dematerialised shares under the Companies Act and the Depositories Act vests all rights in the nominee to the exclusion of other claimants. The statutory scheme makes the nominee entitled to the full bundle of rights on the death of the beneficial owner, and the last valid nomination prevails. This position is distinguished from regimes such as insurance and co-operative society law, where nomination generally secures transmission or payment but does not itself confer ownership. The legal effect is that a properly made nomination for dematerialised securities overrides competing claims by heirs or legal representatives. Case-Laws Companies Law Tue, 20 Apr 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=113363