Ticket Check Transactions Settled in The Two Lok Benami
by NEW DELHI: A comprehensive bill for strict control of operations Benami, including commission to confiscate these goods and the prisons, was promoted on the house Thursday.
Benami Transactions (Prohibition) Bill 2011, introduced by the Finance Minister Pranab Mukherjee, will replace the existing Benami Transactions (Prohibition) Act 1988.
The bill has two prohibit the possession of property Benami and limit the right to recover or transfer such property. Also looking for two provides a mechanism and procedure for confiscation of property held Benami without compensation.
Bill Goodwill Benami prohibited transactions by any person, except for contracts initiated in the name of the spouse, sibling, parent or other officer or descending.
The bill contains two committees developed refers to the definition of trade in goods and Benami Benami, Benami prohibited transactions, the consequences of entering into a transaction prohibited Benami and procedures for law enforcement Benami. According to the draft, things that break the rule imposed imprisonment for not less than six months, extended for two years and two question also penalized with a fine.
Benami transactions are notorious source of traffic and the investment of black money. The government has faced the heat in the Supreme Court, civil society and the opposition do NOK to control the two threat of black money.
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