Benami Property Prohibition Law

The Prohibition of Benami Property Transactions Act, 1988, allows the Initiating Officer, after legal processes and with approval, to temporarily attach properties believed to be benami for up to 90 days. The Act defines the roles of ‘benamidar’ and ‘beneficial owner,’ crucial for identifying transactions aimed at benefiting someone other than the property holder. The Supreme Court provides guidelines to determine if a transaction is benami, emphasizing the intentions behind the purchase money. Provisional attachment is an initial measure in a broader legal procedure towards adjudication.