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TMI BlogNotice and attachment of property involved in benami transaction.X X X X Extracts X X X X X X X X Extracts X X X X ..... ession, has reason to believe that any person is a benamidar in respect of a property, he may, after recording reasons in writing, issue a notice to the person to show cause within such time as may be specified in the notice why the property should not be treated as benami property. (2) Where a notice under sub-section (1) specifies any property as being held by a benamidar referred to in that su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... visionally the property in the manner as may be prescribed, for a period not exceeding 6[four months] 2[from the last day of the month in which the notice under sub-section (1) is issued]. (4) The Initiating Officer, after making such inquires and calling for such reports or evidence as he deems fit and taking into account all relevant materials, shall, within a period of 7[four months] 3[from th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tach the property as specified in the notice, with the prior approval of the Approving Authority. (5) Where the Initiating Officer passes an order continuing the provisional attachment of the property under sub-clause (i) of clause (a) of sub-section (4) or passes an order provisionally attaching the property under sub-clause (i) of clause (b) of that sub-section, he shall, within 8[one month fro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ting Officer to refer the order of attachment to Adjudicating Authority is less than seven days, such remaining period shall be deemed to be extended to seven days.] ******************* Notes: 1. Inserted vide Benami Transactions (Prohibition) Amendment Act, 2016 2. Substituted vide FINANCE (NO. 2) ACT, 2019 w.e.f. 01-09-2019 before it was read as "from the date of issue of notice under ..... X X X X Extracts X X X X X X X X Extracts X X X X
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