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of <h1>Ban on Benami Transactions with Up to 3 Years Imprisonment and Fines Under Amended Law Section</h1> No person shall engage in benami transactions, which are prohibited under the law. Anyone found entering into such transactions is subject to imprisonment for up to three years, a fine, or both. Transactions occurring after the commencement of the 2016 amendment are punishable according to specific provisions outlined in the amended Act. Certain exceptions previously applicable, such as property purchased in the name of a spouse or unmarried daughter and securities held by depositories or their agents, have been omitted or modified. Offenses under this section are subject to the updated procedural and punitive measures as per the latest legislative amendments.
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