One More Weapon In Government's Armory

Introduction

Benami is a Persian language word that means "without name" or "no name". In the Benami Transactions Prohibition Act, the word is used to define a transaction in which the real beneficiary is not the one in whose name the property is purchased. As a result, the person in whose name the property is purchased is just a mask for the real beneficiary.

The much awaited reform in the form of Benami Transactions Prohibition (Amendment) Bill, 2015 (Amendment Bill) that was pending since 2011 has finally got a green signal from both the Houses of Parliament on August 2, 2016, at an appropriate time when the Government is all geared up to resolve the menace of black money.