RAM CHANDER TALWAR vs DEVENDER KUMAR TALWAR .

The Supreme Court held that under Section 45ZA(2) of the Banking Regulation Act, the nominee of a depositor acquires the right to receive the deposit amount upon the depositor's death, but does not become the owner of the funds. The Court clarified that the nominee merely steps into the shoes of the depositor and that the funds remain part of the depositor's estate, subject to the rules of succession. The appeal was dismissed, affirming the High Court's decision based on the precedent set in V.N. Khanchandani & Anr. v. V.L. Khanchandani & Anr., (2000) 6 SCC 724.