https://www.taxtmi.com/highlights?id=97193 Benami Act is a self-contained statutory code providing for identification, provisional attachment, adjudication and confiscation of benami property, and its adjudicatory hierarchy has exclusive jurisdiction over such matters; therefore insolvency forums under the IBC cannot re-open or determine the legality of Benami Act attachments. Property held benami is not beneficially owned by the corporate debtor and thus falls outside the liquidation estate; moratorium under the IBC does not obstruct sovereign attachment proceedings. Attempts to challenge Benami Act orders before IBC tribunals amount to abuse of process and are not a lawful route for creditors or debtors. en-us Thu, 26 Feb 2026 07:35:37 +0530 Thu, 26 Feb 2026 07:35:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=97193 Benami Act is a self-contained statutory code providing for identification, provisional attachment, adjudication and confiscation of benami property, and its adjudicatory hierarchy has exclusive jurisdiction over such matters; therefore insolvency forums under the IBC cannot re-open or determine the legality of Benami Act attachments. Property held benami is not beneficially owned by the corporate debtor and thus falls outside the liquidation estate; moratorium under the IBC does not obstruct sovereign attachment proceedings. Attempts to challenge Benami Act orders before IBC tribunals amount to abuse of process and are not a lawful route for creditors or debtors. Highlights Benami Property Thu, 26 Feb 2026 07:35:37 +0530 https://www.taxtmi.com/highlights?id=97193