Bombay HC refuses to direct transfer of RBI bonds to mom & wife of man who has taken sanyas

The Bombay High Court declined to order the transfer of RBI bonds to the mother and wife of a man who became a Jain sadhu, ruling that disputed claims should be settled through civil proceedings. The petitioners argued that the mans renunciation amounted to civil death, but the court sided with HDFC Bank, which refused the transfer based on RBI guidelines, citing lack of conclusive evidence regarding the man's renunciation and succession.