In a recent landmark judgment, the Supreme Court, in the case of Shakti Yezdani vs JJ Salgaonkar, conclusively clarified that the act of nomination concerning shares in a company does not confer unequivocal legal ownership of the shares upon the nominee.
This decisive ruling effectively dispels the previous ambiguity and uncertainty surrounding this matter, particularly in light of the Bombay High Court’s earlier decision on the impact of share nominations. The Supreme Court’s pronouncement establishes a clear legal precedent, delineating the limits of the nomination’s statutory testament, thus resolving any lingering questions on the matter.
Our Partner, Narendra Dingankar, expresses his views in the article published in The Hindu Business Line.
Read the complete article here https://lnkd.in/gByC7ZA8 #PioneerLegal #LawAtPL #ShareNomination #StatutoryTestament #LegalPrecedent #ShareOwnership
