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.
The news of the collapse of Silicon Valley Bank led to widespread speculation about the wider fate of banks amid fears of a contagion hastening a recession. There have been a lot of explanations for the meltdown at SVB. We attempt to break it down.