A new
law is proposed to strengthen
punishment procedures for benami
transactions.
Upon
the Benami Transactions (Prohibition)
Bill, 2011 becoming an Act, it shall replace the Benami
Transactions (Prohibition) Act, 1988. The Bill is to consolidate and
amend the law relating to benami transactions, prohibit holding property in
benami and restrict right to recover or transfer property held benami and
provide mechanism and procedure for confiscation of property held benami and
for matters connected therewith or incidental thereto.
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