The Supreme Court ruled on December 14 that claims over financial instruments such as shares and debentures should be with the successor as laid down by the law or the will of the original owner, and not with nominees. The court ruled that a nominee in a share/debenture certificate is not entitled to inherit it by default. The inheritance or the succession of these instruments will be determined by the contents of the deceased’s will or as per succession laws.
#ThyagarajanNarendran from moneycontrol.com talks to our Partner Dinesh Pednekar, in the article, “Why SC ruled that nominees cannot claim ownership of securities” on the impact of this decision.
Read the article here: https://bitly.ws/36Eg7