law: The Small Industries Development Bank of India Act, 1989 
  46. Nomination by depositors
  
  or holders of bonds or other securities 
  1.     
  
    Notwithstanding
  
  anything contained in any other law, where a nomination in respect of any
  
  deposits, bonds or other securities kept with or issued by the Small Industries
  
  Bank is made in the prescribed manner, the amount due on such deposits, bonds
  
  or other securities shall, on the death of the depositor or holder thereof,
  
  vest in, and be payable to, the nominee subject to any right, title, interest
  
  or claim of any other person, in relation to such deposits, bonds or their
  
  securities.
  2.     
  
    Any
  
  payment by the Small Industries Bank in accordance with the provisions of
  
  sub-section (1) shall be a full discharge of its liability in respect of such
  
  deposits, bonds or securities.