From Our Bureau
NEW DELHI: The Supreme Court on Tuesday held that the Benami Transactions (Prohibition) Amendment Act of 2016 cannot be applied retrospectively.
A Bench headed by Chief Justice NV Ramana said the 2016 amendment to the 1988 Act is prospective in nature and it cannot be applied retrospectively under Section 3(2) of the original act that prescribes jail up to three years or with fine or both.
It held Section 3(2) of the 1988 Act as “unconstitutional,” saying that such a coercive provision can not hve a retrospective effect. It noted that the 2016 amendment cannot be held as merely procedural.
