Amendments in Benami Law- Supreme Court to Consider Hearing in Open Court a Review Petition Filed by Centre

The Supreme Court accepted the Center's plea for an open court hearing to review their judgement, which had declared several clauses of the Benami Transactions (Prohibition) Amendment Act, 2016, as invalid.?

The amendments applied retroactively, requiring a person to be imprisoned for three years and giving the Centre the authority to confiscate “any property” involved in a benami transaction. The Benami Transactions (Prohibition) Amendment Act, 2016 is a major piece of legislation that seeks to curb the practice of benami transactions and strengthen the legal framework to prevent such transactions from taking place. It is important that all aspects of the legislation are taken into consideration and that its validity is properly assessed.?

By allowing for an open court hearing on the matter, the Supreme Court has ensured that all stakeholders will have an opportunity to be heard and that their opinion will be given due consideration. This will help ensure that the best possible judgement is reached and that the law is implemented in an effective and fair manner.