2024 (7) TMI 427 - HC - Benami Property

Scope of amendment of Benami Transactions (Prohibition) Act, 1988 - HELD THAT - As parties reached to a consensus. It is agreed that the amendment became part of statute book of Benami Transactions (Prohibition) Act, 1988 with effect from 01.11.2016 and in all these cases, the subject matter is for a period between 2011-2015 i.e., prior to the amendment. Thus, it is agreed that in the light of judgment of Supreme Court in Union of India and Another v. M/s. Ganpati Dealcom Pvt. Ltd. 2022 (8) TMI 1047 - SUPREME COURT the impugned orders in all these petitions may be set aside. In view of consensus arrived at, the impugned orders in all these petitions are set aside.

Summary

Issues Involved:
Consensus on the effect of an amendment to the Benami Transactions (Prohibition) Act, 1988 pre and post its enactment.

Analysis:

The judgment delivered by the High Court involved a common order regarding multiple petitions with similar subject matter. The learned counsels for both parties reached a consensus during the hearing. It was agreed that an amendment to the Benami Transactions (Prohibition) Act, 1988 came into effect on 01.11.2016, while the subject matter of the cases dated back to the period between 2011-2015, prior to the amendment. The parties agreed that, in light of the judgment of the Supreme Court in Union of India and Another v. M/s. Ganpati Dealcom Pvt. Ltd., the impugned orders in all the petitions should be set aside.

Based on the consensus reached by the parties and the agreement on the applicability of the amendment to the Benami Transactions (Prohibition) Act, 1988, the High Court ordered that the impugned orders in all the petitions be set aside. Consequently, the Writ Petitions were disposed of with no costs imposed. Any interlocutory applications pending were also ordered to stand closed as a result of the judgment.