[1600 Benami Properties worth Rs 4,300 Cr attached] EBC releases book on Benami Property, stay on the correct side of the law

Benami Property: A Commentary by Dr J.K. Verma is an authoritative text on Prohibition of Benami Property Transactions Act, 1988 as amended by Benami Transactions (Prohibition) Amendment Act, 2016.

This Amendment Act has added many substantive and procedural provisions and even changed the title. The Act has been enlarged, the original Act had only 9 sections whereas the Amended Act has 72 sections.

An attempt has been made in this book to deliberate on the need of this amendment in its present form; and explores its scope, ambit and import as against and vis-à-vis the earlier enactment.

The book discusses the evolution of the law on benami transactions discussing enactments like the Bengal Regulation (11 of 1822); Indian Trusts Act, 1882; Transfer of Property Act, 1882; Code of Civil Procedure, 1908, etc.

The following are the notable features of the book:

  1. Includes a chapter discussing provisions similar to Benami Act in other statutes like Prevention of Money-Laundering Act, 2002; Prevention of Corruption Act, 1988, etc.
  2. Includes the statutory text of the earlier enactments, viz. Benami Transactions Ordinance, 1988 and Benami Transactions (Prohibition) Act, 1988.
  3. Includes statutory text of the Prohibition of Benami Property Transactions Rules, 2016.
  4. Includes all Notifications issued under the Benami Act.
  5. Includes an appendix containing statutory text of Prevention of Money-Laundering Act, 2002.

This commentary will be very useful for the readers as this legislation has led to a spate of litigation. The book is a must for lawyers, judges and anyone interested in knowing about benami property.

The book can be purchased here.

 

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