Benami Transactions

Markets regulator Sebi has introduced industry standards for the minimum information that listed entities are required to provide to the audit committee and shareholders when seeking approval for the related party transactions (RPT). The Industry Standards Forum (ISF) comprising representatives from three industry associations -- ASSOCHAM, CII and FICCI -- have formulated these standards for minimum information to be provided for review of the audit committee and shareholders for approval of RPTs in consultation with Sebi under the aegis of the stock exchanges. The industry associations and stock exchanges will publish these standards on their websites to facilitate a uniform approach and assist listed entities in complying with the requirements, the Securities and Exchange Board of India (Sebi) said in a circular on Friday. The new disclosure requirements will come into effect from April 1, it added. Under Sebi's LODR (Listing Obligations and Disclosure Requirements) rules, relate

The ruling clarifies that properties can be attached even if the person who financed the purchase cannot be identified, sending a strong message against fraudulent property transactions in India.

Court also asks Centre to file a reply in the case in six weeks; next hearing on March 20

The Centre may introduce a value threshold for "Ben­ami deals", beyond which such transactions shall be invalidated and assets involved confiscated

According to the official data, as of May 31, 2019, show-cause notices were issued in more than 2,100 cases involving benami properties , valued at over Rs 9,600 crore

Pent-up demand from customers post-pandemic for immersive engagement and convenient in-store experiences has driven productivity at retail spaces, says report

The Supreme Court recently struck down a provision of the Benami Transactions (Prohibition) Act 1988 as unconstitutional. It entailed punishment for any 'Benami' transaction. Here's more about the law

Supreme Court termed 'The Benami Act' unconstitutional. What is the 1988 Benami property act? What is the Benami Transaction Amendment Act 2016? Why is it unconstitutional? Read to know everything

Says section 3 of the 2016 amendment Act is unconstitutional

Seek action under black money and benami laws for non-disclosure

Govt asks companies to also reveal CSR spend, benami property transactions from FY22

The plea has also sought a direction to the Law Commission to suggest steps to remove the menace of corruption, black money generation and 'benami' transaction

As per an official release, the Adjudicating Authority and Appellate Tribunal will be based in the National Capital Territory of Delhi

In 5 cases, provisional attachments of benami properties totalling Rs 1,500 mn have been confirmed

Titled 'Keep Away from Benami Transactions', the taxman's ad described black money as a 'crime against humanity'

By the beginning of November, the I-T department had attached benami assets worth Rs 1,833 crore