Supreme Court Holds Sec 3(2) of Benami Transactions (Prohibition) Act 1988 Unconstitutional; 2016 Amendment is Prospective

Hundreds of people and businesses were waiting for a Supreme Court decision on whether the Benami law of 2016, one of the harshest statutes, can be applied retrospectively. The Supreme Court ruled on Tuesday that Section 3(2) of the Benami Transactions (Prohibition) Act of 1988 is unconstitutional because it is manifestly arbitrary and further the

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