The apex court has observed one of the provisions of the 1988 Benami law as unconstitutional.
The Supreme Court Tuesday struck down one of the provisions of the Benami Transactions (Prohibition) Act of 1988, which provides for the punishment of a maximum jail term of three years or a fine or both for those indulging in 바카라Benami바카라 transactions.
The apex court termed the provision 바카라unconstitutional바카라 on the ground of being 바카라manifestly arbitrary바카라.
"We hold section 3(2) of the Benami Transactions (Prohibition) Act, 1988 as unconstitutional," a bench comprising Chief Justice N V Ramana and Justices C T Ravikumar and Hima Kohli said.
Section 3 of the statute deals with the issue of 바카라Prohibition of benami transactions바카라 and its impugned sub-section (2) says. 바카라Whoever enters into any benami transaction shall be punishable with imprisonment for a term which may extend to three years or with fine or with both.바카라
The verdict came on the appeal of the Centre challenging the Calcutta High Court judgment in which it was held that the amendment made in the 1988 Act in 2016 would be applicable with prospective effect.
The 1988 Act was made to prohibit 바카라benami바카라 transactions and the right to recover property that is held to be 'benami'.