The Supreme Court clarified that nominations under the Companies Act do not grant absolute rights of ownership in favour of the nominee. Moreover, the usual mode of succession should not be impacted by such a nomination. The legal heirs therefore cannot be excluded by virtue of nomination.

Non-fungible tokens (NFTs) are gradually becoming more and more popular. There has been a substantial increase in the use and trading of NFTs thanks to their dynamic and broad use cases across platforms, as well as their ability to support digital scarcity and proven ownership of unique, one-of-a-kind assets. In this article we outline what is a non-fungible token, their characteristics and specifications, and how they can be used.