Look-out circular cannot be opened under the Benami Act
June 28, 2022
A transaction where a property is transferred to a person for a consideration paid by another person is defined as a Benami transaction. As per Section 2(9)(A)(a) of the Prohibition of Benami Property Transactions Act, 1988 (hereinafter referred to as “Act”), which states, “2. (9) BENAMI TRANSACTION” MEANS— (A) a...
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