Parliament in August 2016 has passed the Benami Transactions (Prohibition) Act, to curb the menace of black money. The law prescribed that each and every trial must be conducted as expeditiously as possible and every endeavor should be made by the special court to complete it within six months from the date of filing of the complaint.
Benami Transactions is an act of the parliament that prohibits certain types of financial transactions. The act defines a 'benami' transaction as any transaction in which property is transferred to one person for a consideration paid by another person. Such transactions were a feature of the Indian economy, usually relating to the purchase of immovable property, and were thought to contribute to the Indian black money problem. The act bans all benami transactions and gives the government the right to recover property held benami without paying any compensation.
The central government has notified session court of states and union territories which will work as a special court for the offense under the benami transaction law.
These courts were notified after consultation with Chief Justice of a respective High court under the Prohibition of Benami Property Transaction Act 1988 for offense punishable under the act. In Delhi, courts of additional sessions judge 02 in each district have been appointed as a special court.
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