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IN THE HIGH COURT OF JUDICATURE AT BOMBAY NAGPUR BENCH : NAGPUR
R.M.JOSHI
Priya d/o Praveen Maloo after marriage Priya w/o Gagan Grower – Appellant
Versus
Meena w/o Praveen Maloo – Respondent
| Table of Content |
|---|
| 1. challenge to orders concerning insurance claims. (Para 1 , 2 , 3 , 4 , 5) |
| 2. arguments on entitlement of insurance benefits. (Para 6 , 7) |
| 3. analysis of legal interpretations regarding beneficiaries. (Para 8 , 9 , 10 , 11 , 12 , 13 , 14 , 15 , 16 , 17 , 18 , 19 , 20 , 21 , 22) |
| 4. decision on effects of insurance nominations related to succession. (Para 26 , 27) |
| 5. final orders set aside for retrial of lower court's decisions. (Para 28 , 29) |
JUDGMENT :
R.M. JOSHI, J.
Heard Mr. M. G. Bhangde, learned Senior Counsel assisted by Mr. A. G. Baheti and Mr. Rishi Chhabda, learned Counsel for the Petitioners and Mr. Nayan Mirpuri, learned Counsel h/f Mr. P. P. Kothari, learned Counsel for the Respondent No.4 and 5. None appeared for the Respondent Nos.1 & 2 and for the Respondent Nos.3 and 4.
2. In Writ Petition No. 240/2024 there is a challenge to the order dated 21/3/2023 passed below Exhibit-395 [which according to the Petitioners is infact passed below application (Exhibit-387)]. Whereas, order dated 21/3/2023 passed below Exhibit-387 [which is claimed to have been passed below Exhibit-395] is taken exception to in Writ Petition No. 241/2024.
3. By consent of both sides, these
Nominees under Section 39(7) of the Insurance Act have a beneficial interest in insurance proceeds, but this does not override the applicable succession laws if inconsistent. Decisions on such matter....
Nomination in insurance does not confer absolute rights over terminal benefits, which pertain to legal heirs under succession laws.
Rights of the parties to a lis have to be decided in accordance with the statutory provisions and law that prevails on the day the cause of action arises.
The main legal point established in the judgment is that nomination under Section 39 of the Insurance Act, 1938 does not confer any beneficial interest on the nominee, and the amount payable under th....
(1) Rights of nominee vis-à-vis right of successor – Rights conferred by Hindu Succession Act, 1956 will prevail over rights claimed by nominee under Section 39(7) of Insurance Act, 1938 succession a....
The nominee under the Insurance Act does not have superior rights over legal heirs under the Hindu Succession Act, emphasizing the need for harmonious interpretation of both laws.
Nominees under the Companies Act do not gain absolute ownership of shares; they hold them in a fiduciary capacity for legal heirs, preserving the rights of succession.
Amended provisions of Section 39 of the Insurance Act establish that nominees have independent rights over insurance proceeds, necessitating adjudication of any will claims in proper legal proceeding....
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