https://www.taxtmi.com/caselaws?id=275587 A nomination under Section 39(6) of the Insurance Act, 1938 gives the nominee a right to receive life insurance proceeds, but it does not confer exclusive ownership against the legal heirs. The nominee holds the amount subject to the heirs' beneficial rights under succession law. An interim injunction restraining withdrawal was properly refused because it would defeat the statutory payment mechanism, but the heirs' interest was protected by directing security for their share before payment to the nominee. en-us Tue, 27 Jun 1972 00:00:00 +0530 Tue, 09 Oct 2018 12:11:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275587 A nomination under Section 39(6) of the Insurance Act, 1938 gives the nominee a right to receive life insurance proceeds, but it does not confer exclusive ownership against the legal heirs. The nominee holds the amount subject to the heirs' beneficial rights under succession law. An interim injunction restraining withdrawal was properly refused because it would defeat the statutory payment mechanism, but the heirs' interest was protected by directing security for their share before payment to the nominee. Case-Laws Indian Laws Tue, 27 Jun 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275587