Benami Transactions (Prohibition) Act : PROHIBITION OF THE RIGHT TO RECOVER PROPERTY HELD BENAMI Indian Bare

Benami Transactions (Prohibition) Act,1988

Act No : 45

Section : PROHIBITION OF THE RIGHT TO RECOVER PROPERTY HELD BENAMI

SECTION 04: PROHIBITION OF THE RIGHT TO RECOVER PROPERTY HELD BENAMI

(1) No suit, claim or action to enforce any right in respect of any property held benami against the person in whose name the property is held- or against any other person shall lie by or on behalf of a person claiming to be the real owner of such property.

(2) No defence based on any right in respect of any property held benami, whether against the person in whose name the property is held or against any other person, shall be allowed in any suit, claim or action by or on behalf of a person claiming to be the real owner of such property.

(3) Nothing in this section shall apply,-

(a) where the person in whose name the property is held is a coparcener in a Hindu undivided family and the property is held for the benefit of the coparceners in the family; or

(b) where the person in whose name the property is held is a trustee or other person standing in a fiduciary capacity, and the property is held for the benefit of another person for whom he is a trustee or towards whom he stands in such capacity.