Tag Archives: Initiating Officer

Acquisition of RIL shares through financially incapable RPPL constitutes a benami transaction, but freezing untainted shares is invalid.

By | August 27, 2026
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Acquisition of RIL shares through financially incapable RPPL constitutes a benami transaction, but freezing untainted shares is invalid. Acquisition of RIL shares through financially incapable RPPL constitutes a benami transaction, but freezing untainted shares is invalid. Issue Whether the acquisition of 10.43 lakh shares of RIL by RPPL using funds routed from promoter-linked entities constitutes… Read More »

Provisionally attaching funds in appellant’s account is justified as unexplained RTGS credits constitute benami transactions

By | August 7, 2026
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Provisionally attaching funds in appellant’s account is justified as unexplained RTGS credits constitute benami transactions Issue Whether the Initiating Officer was justified in treating Shri Asit B. Doshi as the benamidar and the appellant as the beneficial owner under Section 2(9) of the Prohibition of Benami Property Transactions Act, 1988, and provisionally attaching funds in… Read More »

Unexplained Demonetized Cash Deposits And Subsequent RTGS Transfers From Unknown Entities Constitute Benami Transactions Under PBPT Act

By | August 6, 2026
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Unexplained Demonetized Cash Deposits And Subsequent RTGS Transfers From Unknown Entities Constitute Benami Transactions Under PBPT Act Issue Whether unexplained deposits of demonetized currency and subsequent RTGS transfers into a proprietorship’s bank account from unknown entities, unsupported by independent trade evidence, constitute a ‘benami transaction’ under Section 2(9) read with Section 2(26), justifying provisional attachment… Read More »