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of <h1>Prohibition of Benami Property Transactions Act 1988 bans illegal property ownership and enables recovery under key sections</h1> The Prohibition of Benami Property Transactions Act, 1988, as amended, prohibits benami transactions and provides for the recovery of property held benami. The Act applies throughout India and came into force on specified dates, with certain key sections effective immediately. It aims to prevent property transactions where the property is held by one person but paid for by another, thereby curbing illegal ownership and related activities. The Act has been amended to update its short title and territorial extent, removing previous exceptions.
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