Benami Transaction

Civil & Criminal Legal Services

Benami property refers to any property—movable or immovable, tangible or intangible—which is the subject matter of a transaction where the property is transferred to one person (the benamidar or name-lender) but the consideration (the money) for the property is paid or provided by another person (the beneficial owner). Essentially, it means "property without a name" or property held under a false name.

The legal framework governing this is the Benami Property Transactions Act, 1988, which was significantly amended in 2016 (now called the Prohibition of Benami Property Transactions Act, 1988). The law strictly prohibits benami transactions, with certain statutory exceptions (like property held by a person in a fiduciary capacity). Violation of this Act can lead to the confiscation of the benami property by the government and may result in rigorous imprisonment and substantial fines for those involved.

How Genesis Law Consultant Can Help

Dealing with benami transactions, whether in defense or prosecution, requires deep expertise in the complex and constantly evolving provisions of the Prohibition of Benami Property Transactions Act.

Genesis Law Consultant has a dedicated practice focusing on these specific matters. We provide comprehensive legal support and advisory in cases involving:

• Advising on legal implications and compliance with the Benami Law.
• Structuring transactions to ensure adherence to the Act's provisions.
• Providing guidance on matters related to investigation, provisional attachment, and confiscation.
• Offering specialized consultation on the intricate process under the Act.
• If you require specialized advisory services regarding a benami property transaction, we encourage you to contact Genesis Law Consultant for a consultation.