A STUDY ON BENAMI TRANSACTIONS-FROM THE OLD CONCEPT TO THE

NEW BILL

ABSTRACT
Benami transactions are practiced in Indian even before the arrival of Britishers. It had been a
de jure recognised thought then. it had been not thought-about harmless. However, eventually
these were usually accustomed resort to furthering extrajudicial or questionable objects,
together with the evasion of taxes. Benami transactions were typically additionally resorted so
as to defeat creditors. The apply bit by bit became rampant. Hence, a correct Legislation was
needed to curb the benami activities to ultimately curtail the extrajudicial objects of the $64000
homeowners. Thus, associate Ordinance was introduced in 1988 followed by the 1988 Act.
However, this 1988 Act, i-e, the present Act, hasn’t had effective provisions and
implementation. a necessity to own a far better Legislation was so felt. By clearing the 2015
modification Bill, the implementation of the provisions to regulate Benami dealing is hoped to
be achieved expeditiously. The paper so seeks to analyse the which means of Benami
Transactions and what colour it's seized these years.