A division bench of the Bombay High Court in Shakti Yezdani and Another. vs Jayanand Jayant Salgaonkar and Others., has held that the right of succession overrides the rights of a nominee. The bench of Justices AS Oka and AA Sayed have held that the rights of the successors prevail over that of the nominee of a holder of shares or securities appointed under Section 109A of Companies Act, 1953. The division bench was hearing appeals arising out of an order passed by a single bench. By an order dated March 31, 2015 a single judge of the Bombay High Court held that in the case of Harsha Nitin Kokate v. The Saraswat Cooperative Bank Limited(Kokate case) the view taken by Roshan Dalvi J was per incuriam or bad in law. These appeals were placed before the division bench after the Chief Justice passed an administrative order directing the same. The primary dispute arises out of a suit regarding the administration of estate of late Jayant Shivram Salgaonkar who died in A...