What is the advantage of making nomination ?
Notwithstanding anything contained in any other law or any testamentary deposition or otherwise, in respect of the shares or debentures, where a nomination has been made in accordance with the Companies Act, 1956, the nominee on the death of the share/debenture /deposit holder of the Company as the case may be on the death of all the joint holders, shall become entitled to the rights in the shares or debentures or deposits of the Company, as the case may be, in relation to such shares or debentures of the Company, to the exclusion of all other persons unless the nomination is revoked.
