Bill passed for Benami Transactions (Prohibition)
Posted on: 2015-05-14 Posted by: CLAT Gurukul Category: Archive Blog
In a bid to tackle generation of black money within the country, the Cabinet on Wednesday approved the new Benami Transaction (Prohibition) Bill to curb unaccounted-for wealth stashed away in foreign bank accounts “The Benami Transactions (Prohibition) (Amendment) Bill, 2015 provides for attachment and confiscation of benami properties and imposes fine with imprisonment. This is one more initiative to fight the menace of black money inside the country,” an official statement said. Source: The Hindu
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