Benami transactions act

SANJAI KUMAR SINGH (Querist) 09 May 2012 This query is : Resolved
Dear sirs,
This query is regarding “The Benami Transactions (prohibition) Act of 1988”.Is this Act Retrospective in Nature ? That is if a Benami Transaction was carried out some months before this Act was brought into force say sometime in 1987, then would that Benami transaction be held as null and void ?
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Adv.R.P.Chugh (Expert) 09 May 2012
Yes Retrospective insofar as any property purchases benami even before 1988 Act...post 1988 cannot be sought to be recovered by somebody claiming to be real owner from the benami owner - the benami owner becomes owner for all purposes, except in some given situations.