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What are the prosecution provisions for a person who enters into a Benami transaction?

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Full Text of the Document

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....nto any benami transaction on or after 01-11-2016 shall be punishable in accordance with Section 53 of the Act. Section 53(1) provides that where any person enters into a benami transaction in order t....

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Full Text of the Document

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....nishable with rigorous imprisonment for a term not less than one year but which may extend to 7 years and * he shall also be liable to a fine which may extend to 25% of the fair market value of the ....

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