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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
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 Petitions are heard finally at the stage of admission and decided by common Judgment, since similar questions of facts and law are involved therein.
4. The issue involved in these Petitions is, as to whether the impugned orders dated 21/3/2023 passed by the trial court rejecting application for withdrawal of the amount deposited in the Court towards the insurance claim, in the light of the provisions of Section 39 (7) of INSURANCE ACT , 1938 and rejection
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.
(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....
Nominees of life insurance policies function as trustees, not automatic beneficiaries; the 2015 amendment to the Insurance Act does not retroactively alter rights for policies where the policyholder ....
Nomination in insurance does not confer absolute rights; benefits are subject to distribution laws among legal heirs.
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