Court : Delhi
..... kumar talwar & ors., (2010) 10 scc617 10.1 in vishan n. khanchandani s case, the supreme court was considering the provisions of the government savings certificate act, 1959 (in short the 1959 act), pursuant to which national saving certificates were issued. 10.2 the provisions of section 6 and 8 were relied upon to suggest that the ratio laid down in sarbati devi s case would not apply. pertinently, provisions of ..... the foregoing provisions of this act to a minor or to his ..... :- (1) any payment made in accordance with ..... the 1959 act are pari materia with section 4(1) of 1873 act. as a matter of fact, section 5(1) and 5(2) of the 1873 act are pari materia with section 8(1)2 and 8(2) of the 1959 act. 10.3 similarly, in ramchandar talwar s case, the supreme court was considering the provisions of section 45-za(2)3 of the banking regulation 2 8. payment to be a full discharge .....Tag this Judgment!
Court : Himachal Pradesh
Reported in : AIR2002HP48
..... in terms of sub-section (2) of section 8 of the government savings certificates act, 1959 before the learned trial court. the amount so received by defendant no. 1 on account of kisan vikas patras in which she is the nominee of the deceased kedar nath bhoil shallbe payable to the plaintiffs after deduction of the amounts of debts or other demands lawfully paid or discharged, if any, by ..... a nominee, the same shall be a full discharge from all further liabilities in respect of the sum so paid. section 7 of the act provides that after the death of the holder of the savings certificates, payment of the sum shall be made to the nominee, if any and sub-section (1) of section 8 declares that such payment shall be a full discharge from all further liabilities in respect of the ..... sum so paid. however, sub-section (2) of section 8 specifies that the payment made to the nominee .....Tag this Judgment!
Court : Mumbai
..... utilise the aforesaid amounts in the manner they like. it is contended that by their nomination, the holder of the national savings certificates, namely, shri ..... the sum so paid. section 7 of the act provides that after the death of the holder of the savings certificates payment of the sum shall be made to the nominee, if any, and subsection (1) of section 8 declares that such payment shall be a full discharge from all further liabilities in respect of the sum so paid. however, sub-section (2) of section 8 specifies that the payment made to the nominee ..... taken here by mr. pai and mr. ghatalia: 4. feeling aggrieved, the appellants-the nominees of the national savings certificates have filed this appeal contending that under section 6 of the government savings certificates act, 1959, after the death of the holder they had become entitled to the payment of such saving certificates in which they were nominees, to the exclusion of all other persons including the respondents and entitled to .....Tag this Judgment!
Court : Mumbai
Reported in : 1999(4)BomCR297; (1999)2BOMLR607; 1999(3)MhLj120
..... and are bound to pay the same to the heirs. the right to receive the amount due on the certificates given to the nominees under section 6 of the government savings certificates act, 1959 would, therefore, only discharge the liability of the government for payment of the amount due on the national saving certificates. the pay-merit to the nominees does not create any beneficial interest in their favour in respect of ..... state of the deceased and, therefore, will be governed by the law of succession. the only right given to the nominees of the national saving certificates is that they are entitled to receive the amount and, in turn, shall be liable to return the amount to those in whose favour law creates beneficial interest.8. there are two modes of disposition of property , one ..... appellants are entitled for succession certificate in respect of the debts listed at sr. nos. 17 to 26 in annexure 'a' and sr. nos. 1 and 4 in annexure 'b' to the plaint also. there is no dispute that the appellants alone are the heirs under the personal law i.e. as per section 8 of the hindu succession act, 1956 and are entitled ..... to equal share in the estate of the deceased as they fall under class-i of the schedule under section 8 of the said act. the appellants, no doubt, exclude the respondents from the heirship as the latter are specified in class-ii of the schedule who succeed only in case there is no heir .....Tag this Judgment!
Court : Supreme Court of India
Reported in : AIR2000SC2747; 2000(4)ALLMR(SC)688; 102CompCas340(SC); 2000(4)CTC115; 246ITR306(SC); JT2000(9)SC321; (2001)1MLJ1(SC); 2000(II)OLR(SC)528; 2000(5)SCALE592; (2000
..... there was no necessity to furnish any security.4. feeling aggrieved, the appellants- the nominees of the national savings certificates have filed this appeal contending that under section 6 of the government savings certificates act, 1959, after the death of the holder they had become entitled to the payment of such saving certificates in which they were nominees, to the exclusion of all other persons including the respondents and entitled to ..... the sum so paid. section 7 of the act provides that after the death of the holder of the savings certificates payment of the sum shall be made to the nominee, if any, and sub-section (1) of section 8 declares that such payment shall be a full discharge from all further liabilities in respect of the sum so paid. however, sub-section (2) of section 8 specifies that the payment made to the nominee ..... itself amounted to testamentary succession.5. the government savings certificate act, 1959 (being act no. 46 of 1959) (hereinafter referred to as 'the act') was enacted to make certain provisions in respect of the government savings certificates. the act applies to such class of savings certificates as the central government may, by notification, in the official gazette, specify in that behalf. the act was applied to the national savings certificates by notifications issued with respect to various issues .....Tag this Judgment!
Court : Delhi
Reported in : 245ITR610(Delhi)
..... ,500 in the assessor's income. the assessed challenged the order before the tribunal. it was contended that section 3 of the government savings certificates act, 1959 (46 of 1959) (in short the 'savings act'), prescribed restrictions on transfer of savings certificates. reference was also made to rule 16 of the post office savings certificates rules, 1960 (in short 'the rules'). the assessor's stand before the authorities was reiterated, while the revenue ..... supported the order of the appellate assistant commissioner.noticing the restrictions imposed by the provisions of section 3 of the savings act, the ..... the restriction, the benefit claimed by the assessed was available to be granted.5. section 3 of the savings act reads as follows :'notwithstanding anything contained in any law for the time being in force, no transfer of a savings certificate, whether made before or after the commencement of this act, shall be valid unless it has been made with the previous consent in writing of .....Tag this Judgment!
Court : Kolkata
Reported in : AIR2009Cal56,(2008)IVCALLT54(HC)
..... advocate for the petitioners refers to section 4(a) of the government savings banks act, 1873 and submits that the postal authorities should now proceed on the basis that there is no nomination in force at present. learned counsel also referred to section 7(4) of the government savings certificates act, 1959.8. he further submits that in the ..... same in accordance with law and/or relevant rules relating to such payments on proper identification of the persons who claim to be entitled to the aforesaid amounts.13. urgent xerox certified copy of this order, if ..... 6 in any of the nscs and kvps of the said madhabi chowdhury, since deceased, shall not prevent the postal authorities concerned from making payment of the maturity amounts of the said nscs and kvps of the said madhabi chowhdury, since deceased, to the persons entitled to receive the ..... application was made before the postal authorities by the said persons, i.e. the petitioners and the said debu chowdhury, for release of the payments of the maturity amounts in respect of the nscs and kvps which were the investments of the said madhabi chowdhury. problem arose, according to the ..... advocates for the respective parties, it appears to this court that the dispute between the parties is with regard to the release of the payment of maturity amounts of the nscs and kvps. it appears from the submissions made by the learned advocates and also from the materials on .....Tag this Judgment!
Court : Mumbai
Reported in : 2008(1)BomCR627; 2008(2)MhLj164
..... due to the heavy pressure of work.8. the government savings certificates act, 1959, is an act to make certain provisions relating to government savings certificates. section 1(3) provides that the act shall apply to certain classes of savings certificates and among them are kisan vikas patras. in exercise of the rule making power conferred by section 12 of the act, the central government made and issued the kisan vikas ..... in romeo sam arambhan v. union of india : air2003bom452 , six year national savings certificates of the viiith issue were issued to the petitioner. upon the certificates maturing for payment, the petitioner presented the certificates, but payment of the promised sum was refused on the ground that the certificates were issued through clerical oversight and mistake. it was sought to be contended ..... regularization had been sent to the circle office. in a subsequent letter dated 1st april 2002, the petitioner was called upon to discharge the certificate at the original face value together with interest at the savings bank rate. on 23rd august 2002, the third respondent informed the petitioner that the directorate had conveyed the approval of the ..... , it is submitted, would be arbitrary and ultra vires. the respondents, it is submitted, would be estopped from denying their obligation to repay the full maturity value of the certificates and to allow an instrumentality of the union of india to do so would be unjust. reliance has been placed on the judgment of this court .....Tag this Judgment!
Court : Mumbai
Reported in : AIR2003Bom452; 2003(5)BomCR457; 2004(1)MhLj56
..... , 1995. 5. in exercise of the powers conferred by section 12 of the government savings certificate act. 1959 the central government made the rules called 'national savings certificate (viii issue) rules, 1989. the said rules came into force on 8th may, 1989. rule 4 provides for types of certificates and issue thereof which reads thus :-- '4. types of certificates and issue thereof.- (1) the certificates shall be of the following types, namely :-- (a ..... of maturity, the respondents took an objection. 11. in view of the above, the writ petition is allowed and the respondents are directed to make the payment of the amount of the aforesaid national savings certificates within a month from the date of production of a certified copy of this order after calculating the total amount as on the date of the maturity ..... july 18, 2001 and on the maturity date, it is the case of the petitioner that he presented the aforesaid certificates after making discharge endorsement on the reverse. the respondent no. 3 refused to pay the petitioner the promised sums on the national savings certificate necessitating the filing of the present writ petition. 4. an affidavit in reply has been filed on behalf of .....Tag this Judgment!
Court : Gujarat
Reported in : AIR2002Guj180
..... 6. for the purpose of deciding the question involved in the matter, it is necessary to refer to certain provisions of law. the central government, in exercise of the powers conferred by section 12 of the government savings certificates act. 1959 has framed indira vikas patra rules, 1986 (hereinafter referred to as 'the rules' for short). it further appears that the director general of ..... para 1(i) & (ii) above and the postmaster shall endorse on the application 'verified, pay to the holder' under his full signature and date stamp. they will also keep a note in the issue & discharge register as 'verified payment claimed at ..... post office (no.....dated .....)'. the verified application will then be returned by registered post to the office from which ..... for replacement from the post office of issue on payment of fee of rupee one. however, under sub-rule (2) of rule 7, a certificate lost, stolen, mutilated defaced or destroyed beyond recognition, will not be replaced by any post office. rule 8 provides for encashment of certificate and states that a certificate of any denomination may be encashed at any ..... the question arises for consideration is whether the petitioner is entitled to get the amount without presenting the ivp certificates from the concerned post office?8. as stated above, the director general of posts. india and the secretary to the government of india, department of posts. ministry of communication have issued necessary instructions in respect of sale and procedure to .....Tag this Judgment!