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Benami transaction means; a transaction or an arrangement:-
✦ Where the property is transferred to or held by a person, and consideration for such property has been provided or paid by another person.
✦ The property is held, by a person, for the immediate or future benefit, direct or indirect, of the person who has provided or paid consideration.
✦ Property is held, carried out or made in a fictitious name.
✦ Where the owner of the property is not aware of, or, denies knowledge of such ownership.
✦ Where person providing consideration for the property is not traceable or is fictitious.
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Benami transaction means; a transaction or an arrangement:-
✦ Where the property is transferred to or held by a person, and consideration for such property has been provided or paid by another person.
✦ The property is held, by a person, for the immediate or future benefit, direct or indirect, of the person who has provided or paid consideration.
✦ Property is held, carried out or made in a fictitious name.
✦ Where the owner of the property is not aware of, or, denies knowledge of such ownership.
✦ Where person providing consideration for the property is not traceable or is fictitious.
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An Act to provide, keeping in view of the economic development of the country, for the establishment of a Commission to prevent practices having adverse effect on competition, to promote and sustain competition in markets, to protect the interests of consumers and to ensure freedom of trade carried on by other participants in markets, in India, and for matters connected therewith or incidental thereto. The Monopolies and Restrictive Trade Practices Act, 1969 [MRTP Act] repealed and is replaced by the Competition Act, 2002, with effect from 01st September, 2009
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The primary difference between a compromise and an arrangement is that whereas an arrangement is between a company and its members or class of members, a compromise is between a company and its creditors or class of creditors.
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Who do you predict will be the leading run-scorer in the T20 World Cup 2024?
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Ex-PAK captain Inzamam accuses India, Rohit delivers a Sherlock-worthy explanation.
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