In Jayamma v. Directorate of Enforcement, 2026:KHC:25829, the Karnataka High Court set aside a provisional attachment order issued under Section 5(1) of the Prevention of Money Laundering Act, 2002 (“PMLA”), holding that mere reproduction of the statutory language contained in the Second Proviso to Section 5(1) cannot substitute the mandatory requirement of recording an independent […]
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.
Attachment Of Property Under The Prohibition Of Benami Property Transactions Act, 1988 Read More »