Gargi Ranade (Company Secretary) 11 March 2016
KS Johal 11 March 2016
Suneet Gupta (www.vashiadvocates.com) 11 March 2016
The payment can be made to the wife as per the Nomination. It is the responsibility of the wife to divide the money received as per the Will of the person or as per the applicable Succession Act. You can take an Undertaking and Imdemnity from the wife that she will divide the money as per the applicable law and keep the Company indemnified of all claims. The indemnity and undertaking should preferably be notarized (better proof). Usually Notary signs only on Stamp Paper and therefore Rs.100/- stamp paper is advised, but is not necessary if the notarization can be on plain paper.
Gargi Ranade (Company Secretary) 12 March 2016