1 [3. Prohibition of benami transactions. --(1) No person shall enter into any benami transaction. 2 * * * * * 3 [(2)] Whoever enters into any benami transaction shall be punishable with imprisonment for a term which may extend to three years or with fine or with both. 4 [(3) Whoever enters into any benami transaction on and after the date of commencement of the Benami Transactions (Prohibition) Amendment Act, 2016 (43 of 2016) shall, notwithstanding anything contained in sub-section (2) , be punishable in accordance with the provisions contained in Chapter VII.] 5 * * * * *Open in Lexace · Ask the AI about this section
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