Benami transaction prohibition strengthened with penal consequences and special punishment for post-amendment dealings. Prohibits entry into any benami transaction and makes a person who does so liable to imprisonment up to three years, or fine, or both. For benami transactions entered into on or after the commencement of the 2016 amendment, punishment is governed by the special penal scheme in Chapter VII, overriding the earlier general punishment provision. The provision also reflects the omission of earlier exclusions and procedural treatment, indicating a stricter framework against benami dealings.
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Provisions expressly mentioned in the judgment/order text.
Benami transaction prohibition strengthened with penal consequences and special punishment for post-amendment dealings.
Prohibits entry into any benami transaction and makes a person who does so liable to imprisonment up to three years, or fine, or both. For benami transactions entered into on or after the commencement of the 2016 amendment, punishment is governed by the special penal scheme in Chapter VII, overriding the earlier general punishment provision. The provision also reflects the omission of earlier exclusions and procedural treatment, indicating a stricter framework against benami dealings.
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