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Benami Transaction (Prohibition) Amendment Act 2016
August 27 , 2022
709 days
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- The Supreme Court ruled that the Benami Transaction (Prohibition) Amendment Act of 2016 will apply prospectively.
- The Authorities concerned cannot initiate or continue criminal prosecution or confiscation proceedings for transactions entered into prior to the coming into force of the 2016 Act, that is October 25, 2016."
- As a consequence of the above declaration, all such prosecutions or confiscation proceedings (for transactions between 1988 and 2016) shall stand quashed.
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