Benami Transactions (Prohibition) Act, 1988

What is Benami property or Benami Transaction?

Any property, whether movable or immovable, tangible or intangible, which has been the subject matter of a Benami transaction, is a Benami property. This would also include the consideration received from such property. Benami property would also include the right or such other document evidencing title or interest in such property.

Benamidar: the other person on whose name the property is shown with or without his/her consent.

Benami Transaction: is a transaction or an arrangement where a property is transferred to, or is held by, a person, and the consideration for such property has been provided, or paid by, another person and the property is held for the immediate or future benefit, direct or indirect, of the person who has provided the consideration.

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