The Prohibition of Benami Property Transactions Act, 1988
The Prohibition of Benami Property Transactions Act, 1988 is an Indian law enacted to prohibit benami transactions and impose penalties for violation of the law.
Summary
The Prohibition of Benami Property Transactions Act, 1988 is a law enacted by the Indian Parliament to prohibit benami transactions, which refers to the practice of holding property in the name of someone else, often to conceal the real ownership. The Act imposes penalties and fines for those who enter into benami transactions, as well as for those who abet or induce others to do so. The Act also establishes adjudicating authorities and appellate tribunals to handle cases related to benami transactions, and provides for the confiscation of benami properties. Additionally, the Act makes provisions for the recovery of any damages caused by benami transactions.
Table of Contents
| # | Section | Link |
|---|---|---|
| 1 | Section 1: Short Title, Extent And Commencement | Open |
| 2 | Section 2: Definitions | Open |
| 3 | Section 3: Prohibition Of Benami Transactions | Open |
| 4 | Section 4: Prohibition Of The Right To Recover Property Held Benami | Open |
| 5 | Section 5: Property Held Benami Liable To Confiscation | Open |
| 6 | Section 6: Prohibition On Re-Transfer Of Property By Benamidar | Open |
| 7 | Section 7: Adjudicating Authority | Open |
| 8 | Section 8: Composition Of Authority | Open |
| 9 | Section 9: Qualifications For Appointment Of Chairperson And Members | Open |
| 10 | Section 10: Constitution Of Benches Of Adjudicating Authority | Open |
| 11 | Section 11: Power Of Adjudicating Authority To Regulate Its Own Procedure | Open |
| 12 | Section 12: Term Of Office Of Chairperson And Members Of Adjudicating Authority | Open |
| 13 | Section 13: Terms And Conditions Of Services Of Chairperson And Members Of Adjudicating Authority | Open |
| 14 | Section 14: Removal Of Chairperson And Members Of Adjudicating Authority | Open |
| 15 | Section 15: Member To Act As Chairperson In Certain Circumstances | Open |