Ram Chander Talwar & Anr vs Devender Kumar Talwar & Ors

The Supreme Court held that Section 45ZA(2) of the Banking Regulation Act, 1949 does not confer ownership of the deposited money to the nominee but merely grants the nominee the right to receive the amount, which remains part of the deceased depositor's estate and subject to succession laws. The Court affirmed the High Court's decision, referencing V.N. Khanchandani & Anr. v. V.L. Khanchandani & Anr., (2000) 6 SCC 724, establishing that the nominee's rights do not exclude the claims of legal heirs. The appeal was dismissed, upholding the principle that nomination does not equate to ownership.