Business Standard

Benami Transactions (prohibition) Amendment Bill

SC to consider govt's plea for open court hearing of petition on Benami law

The Supreme Court on Tuesday agreed to consider the Centre's submissions for an open court hearing of its plea seeking review of the judgement by which several provisions of the Benami Transactions (Prohibition) Amendment Act, 2016 were struck down. A three-judge bench headed by then CJI N V Ramana, since retired, on August 23 last year had struck down section 3(2) and section 5 of the Benami Transactions (Prohibition) Act, 1988, and one of the provisions which provided for the punishment of a maximum jail term of three years or a fine or both for those indulging in benami' transactions. The top court had also held that the amended Benami law of 2016 did not have retrospective application and the authorities cannot initiate or continue criminal prosecution or confiscation proceedings for transactions entered into prior to the coming into force of the legislation. The Centre, represented by Solicitor General Tushar Mehta, on Tuesday urged a bench comprising Chief Justice D Y ...

SC to consider govt's plea for open court hearing of petition on Benami law
Updated On : 31 Jan 2023 | 3:30 PM IST

Benami Law: What is the Benami Transactions (Prohibition) Act, 1988?

Introduced in 1988 and amended in 2016, the Benami Transactions (Prohibition) Act prohibits Benami transactions and gives the government the right to recover Benami property

Benami Law: What is the Benami Transactions (Prohibition) Act, 1988?
Updated On : 25 Aug 2022 | 2:52 PM IST

What is 1988 Benami Property Act and Benami Transaction Amendment Act 2016

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

What is 1988 Benami Property Act and Benami Transaction Amendment Act 2016
Updated On : 24 Aug 2022 | 4:45 PM IST

Can PMLA really be the go-to legislation to probe financial crimes?

Several older legislations like the Black Money Act and the Benami Transactions Act have become subservient to the Prevention of Money Laundering Act now

Can PMLA really be the go-to legislation to probe financial crimes?
Updated On : 03 Aug 2022 | 6:27 PM IST

Benami property holders should watch out

The amendment Bill has made penalties for holding benami properties more stringent but provides for an appeal mechanism

Benami property holders should watch out
Updated On : 02 Aug 2016 | 11:23 PM IST

A two-minute guide to Benami Transactions (Prohibition) Amendment Bill

The Bill aims to catch those who channelise their black money into real estate illegitimately

A two-minute guide to Benami Transactions (Prohibition) Amendment Bill
Updated On : 28 Jul 2016 | 12:52 PM IST

Changes in 'benami' prohibition Bill cleared

According to a government statement, those who declare their benami properties under IDS will get immunity under the Benami Act

Changes in 'benami' prohibition Bill cleared
Updated On : 21 Jul 2016 | 1:33 AM IST