section 72 to nominate

The nominee must be a natural person, including a minor, whose securities will vest in the case of the death of the security holders. However, if the nominee is a minor, it is the obligation of the holder of securities to select such other person to become entitled to the securities in the event of the nominee’s death while in his or her minority. Moreover, all other artificial persons created/dressed by the law or by a fiction, such as a body corporate, a company, a society, a trust, a Hindu Undivided Family, and so on, are ineligible to become nominees.