Law Relating to Prohibition of Benami Property Transactions Act 1988 Srinivasan Anand G

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This book provides a comprehensive section-wise commentary on the law relating to Benami Act. It is rendered in an easy-to-read & follows a ‘FAQ’ form…



This book provides a comprehensive section-wise commentary on the law relating to the Prohibition of Benami Property Transactions. It is rendered in an easy-to-read & follows a ‘FAQ’ format. It also includes the legislative history and effective date of applicability based on given Case Laws. Flow charts & tables have been provided in this book for ease of reference.

This book is designed to be a handy referencer to the practitioners of the following laws:

Civil Law
Criminal Law
Company Law
The Present Publication is the 6th Edition and has been amended by the Finance Act 2023. This book is authored by CA Srinivasan Anand G with the following noteworthy features:

[Extensive Analysis with Case Laws (from 2016 to March 2023)] specifically for the following topics:
Pleadings which are required to avail the exceptions/exclusions to Benami transactions
Shell companies
Civil asset forfeiture regime
Nature of confiscation
Controversy over the date of order passed by authorities, whether passed within limitation or after but ‘backdated’ to show it was passed within the limitation
Case Laws of similar/identically worded provisions from other Laws such as:
Civil Procedure Code
Valuation Rules and methods
[Ready Reckoner] is provided for the following cases:
In respect of the relatives in whose name property can be held without attracting the taint of Benami
Benami Transaction in Shares Reckoner
Alphabetical Ready Reckoner to Benami Law
[Benami Share Transactions] are explained in light of relevant provisions of the Companies Act 2013
[Analysis of Procedures] which includes the following:
Procedure before Initiating Officer (IO) u/s 24 (responses to show cause notice & provisional attachment order)
Procedure before Adjudicating Authority (AA) u/s 26 (rights of noticee to require material in possession of IO, based on which the IO attached the show caused property and made reference to the AA
[Analysis of Appellate, Revision and Rectification Remedies] is provided in this book
[Valuation Rules for Determining the Fair Market Value] of Benami property to levy fines under sections 53 and 54 as a percentage of fair market value
[Interaction with Other Laws] This book covers the relevant provisions of other laws, such as:
Companies Act, 2013
Fugitive Economic Offenders Act, 2018
Income Tax Act, 1961
Indian Penal Code, 1860
Civil Procedure Code, 1908
Criminal Procedure Code, 1973
Prevention of Money-laundering Act, 2022
Transfer of Property Act, 1882
Indian Trust Act, 1882
The detailed contents of the book are as follows:

Prohibition of Benami Transactions
Attachment, Adjudication and Confiscation
Appellate Tribunal
Special Courts
Offences and Prosecution