​Prohibition Of Benami Property Transactions Act

  • The central government has notified Sessions courts in 34 states and Union Territories, which will act as special courts for trial of offences under the Benami Transaction Law.
  • The 1988 Act as amended in 2016, defines a benami transaction as a transaction where a property is held by or transferred to a person, but has been provided or paid by another person. The definition also includes property transactions where
    1. A transaction has been made under a fictitious name
    2. The owner is not aware or denies knowledge of the ownership of the property
    3. The person providing the property is not traceable.
  • The key changes that will ....
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Indian Polity And Governance