A nominee has the right to the shares after the original shareholder’ s death and not the deceased’s heirs, Bombay High Court has ruled. Dismissing the application of a widow who sought permission to sell the shares belonging to her late husband, Justice Roshan Dalvi held that she had no right to do so since she was not the nominee. The nominee was her late husband’s nephew.
“The Companies Act sets out that the nomination has to be made during the lifetime of the holder, according to legal procedures. I
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what happens when shares are held in joint names and also nomination is made 2)on death if shares are transmitted to surviving holders wether the same nominee will continue