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Prohibition_Of_Benami_Property_Transaction_Act_1988

Section / Rule Number Content


1 Short title, extent and commencement
2 Definitions
3 Prohibition of benami transactions
4 Prohibition of the right to recover property held benami
5 Property held benami liable to confiscation
6 Prohibition on re-transfer of property by benamidar
7 Adjudicating Authority
8 Composition of Authority
9 Qualifications for appointment of Chairperson and Members
10 Constitution of Benches of Adjudicating Authority
11 Power of Adjudicating Authority to regulate its own procedure
12 Term of office of Chairperson and Members of Adjudicating Authority
13 Terms and conditions of services of Chairperson and Members of Adjudicating Authority
14 Removal of Chairperson and Members of Adjudicating Authority
15 Member to act as Chairperson in certain circumstances
16 Vacancies, etc., not to invalidate proceedings of Adjudicating Authority
17 Officers and employees of Adjudicating Authority
18 Authorities and jurisdiction
19 Powers of authorities
20 Certain officers to assist in inquiry, etc
21 Power to call for information
22 Power of authority to impound documents
23 Power of authority to conduct inquiry, etc
24 Notice and attachment of property involved in benami transaction
25 Manner of service of notice
26 Adjudication of benami property
27 Confiscation and vesting of benami property
28 Management of properties confiscated
29 Possession of the property
30 Establishment of Appellate Tribunal
31 Composition, etc., of Appellate Tribunal
32 Qualifications for appointment of Chairperson and Members of Appellate Tribunal
33 Terms and conditions of services of Chairperson and Members of Appellate Tribunal
34 Term of office of Chairperson and Members
35 Removal of Chairperson and Member from office in certain circumstances
36 Vacancies, etc., not to invalidate proceedings of Appellate Tribunal
37 Resignation and removal
38 Member to act as Chairperson in certain circumstances
39 Staff of Appellate Tribunal
40 Procedure and powers of Appellate Tribunal
41 Distribution of business amongst Benches of Appellate Tribunal
42 Power of Chairperson of Appellate Tribunal to transfer cases
43 Decision to be by majority
44 Members, etc., to be public servants
45 Bar of jurisdiction of civil courts
46 Appeals to Appellate Tribunal
47 Rectification of mistakes
48 Right to representation
49 Appeal to High Court
50 Special Courts
51 Application of Code of Criminal Procedure, 1973 to proceedings before Special Court
52 Appeal and revision
53 Penalty for benami transaction
54 Penalty for false information
54A Penalty for failure to comply with notices or furnish information
54B Proof of entries in records or documents
55 Previous sanction
56 Repeal of provisions of certain Acts
57 Certain transfers to be null and void
58 Exemption
59 Power of Central Government to issue directions, etc.
60 Application of other laws not barred
61 Offences to be non-cognizable
62 Offences by companies
63 Notice, etc., not to be invalid on certain grounds
64 Protection of action taken in good faith
65 Transfer of pending cases
66 Proceedings, etc., against legal representative
67 Act to have overriding effect
68 Power to make rules
69 Laying of rules and notifications before Parliament
70 Power to remove difficulties
71 Transitional provision
72 Repeal and saving
55A_Power_to_tender_Immunity_from_prosecution.

Corporate Secretarial & Compliance Services

The firm specializes in providing comprehensive secretarial services ensuring compliance with corporate legislation. Services include the preparation and filing of statutory forms, maintenance of statutory registers, compliance with the Companies Act, drafting of notices for meetings, and preparation of annual reports.

Mergers & Acquisitions (M&A) & Corporate Restructuring

Arthur & Co. LLP has extensive experience in handling mergers, demergers, acquisitions, and corporate restructuring. The firm provides end-to-end services, including due diligence, structuring of transactions, and assisting with regulatory approvals and filings with authorities like NCLT and SEBI

Insolvency & Bankruptcy Matters

With a strong expertise in the Insolvency and Bankruptcy Code (IBC), 2016, the firm provides services related to Corporate Insolvency Resolution Process (CIRP), drafting Information Memorandums, Resolution Plans, and conducting Committee of Creditors (COC) meetings. It also assists clients in loan restructuring and managing financial crises.

Secretarial Audits & Corporate Governance

The firm conducts detailed secretarial audits for public and private companies, ensuring statutory compliance and good corporate governance practices. This includes preparing and filing annual returns, auditing corporate governance reports, and assisting clients in maintaining the transparency and accountability of their corporate structures.

Legal Advisory & Dispute Resolution

Arthur & Co. LLP offers expert legal advisory services on a wide range of corporate matters, including the drafting of commercial contracts, shareholder agreements, joint ventures, mergers, and acquisitions. The firm also represents clients in dispute resolution and regulatory proceedings before various forums, including NCLT and SEBI.

Taxation & Financial Services

The firm provides expert services in income tax planning, GST advisory and compliance, and financial documentation. It also assists businesses in preparing financial reports and ensuring compliance with tax laws.

Intellectual Property (IP) Services

The firm offers comprehensive trademark registration, protection, and enforcement services, helping clients safeguard their intellectual property rights.

Regulatory Compliances (SEBI, FEMA, RBI, Stock Exchanges)

The firm provides guidance on regulatory compliance under various laws, including the Securities and Exchange Board of India (SEBI), Foreign Exchange Management Act (FEMA), and Reserve Bank of India (RBI) regulations. Services also extend to stock exchange compliances, including SME listing and revocation of suspension of trading of securities.

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