Section 72 of CA 2013 : Section 72: Power To Nominate

Explanation using Example

Imagine an individual, Ravi, who has purchased shares of XYZ Limited. He wants to ensure that if something happens to him, his shares will go to his daughter, Priya. Ravi can use Section 72(1) of the Companies Act, 2013, to nominate Priya as the person who will receive his shares upon his death. He simply needs to fill out the prescribed nomination form provided by the company.

Now consider a married couple, Aarav and Meera, who jointly own shares in ABC Corporation. They can use Section 72(2) to jointly nomin...

Login to access all pages and read more content.

To disable ads and read rest of the premium content, subscribe to KanoonGPT Pro.