https://www.taxtmi.com/caselaws?id=394978 Property purchased with funds traced to the petitioner and his wife was treated as held by the 5th respondent only as ostensible owner, because the facts brought the arrangement within the fiduciary exception under the unamended Benami Transactions (Prohibition) Act, 1988. The Court also held that the secured creditor's SARFAESI measures could be interfered with where the petitioner's objections were ignored and coercive steps were taken arbitrarily. In the circumstances, writ relief was justified and the property could be transferred to the petitioner by private treaty on terms safeguarding repayment of the outstanding loan. en-us Tue, 21 Apr 2020 00:00:00 +0530 Wed, 06 Nov 2024 12:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394978 Property purchased with funds traced to the petitioner and his wife was treated as held by the 5th respondent only as ostensible owner, because the facts brought the arrangement within the fiduciary exception under the unamended Benami Transactions (Prohibition) Act, 1988. The Court also held that the secured creditor's SARFAESI measures could be interfered with where the petitioner's objections were ignored and coercive steps were taken arbitrarily. In the circumstances, writ relief was justified and the property could be transferred to the petitioner by private treaty on terms safeguarding repayment of the outstanding loan. Case-Laws Benami Property Tue, 21 Apr 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394978