Bombay High Court in its important judgement dated 31.3.2015 has held that legal heir only is the owner of shares of a company in case of death of shareholder to the exclusion of the nominee nominated u/s 109A of Companies Act 1956:
https://bombayhighcourt.nic.in/generatenewauth.php?auth=cGF0aD0uL2RhdGEvanVkZ2VtZW50cy8yMDE1LyZmbmFtZT1PU05NUzEwODkxNC5wZGYmc21mbGFnPU4=
It over-ruled its earlier decision of 2010 in case of Harsha Nitin Kokate.
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