Benami Transaction and its Punishment | Buying a Property in Another's name

Title: Benami Transaction and it's Punishment - Buying a Property in another's name In this comprehensive video Lecture, we will discuss the concept of Benami Transaction, it’s Punishment also explain if any person already buy a property in any other person than what kind of remedy available. What are Benami transactions? A Benami Transaction is when any person purchases property or assets in someone else’s name and the actual beneficiary conceals their identity. This dishonest behaviour creates huge legal consequences, destroy financial integrity, Forfeiture of property in Government name and also face a punishment under the Benami Transaction Prohibited Act 2017. Legal Framework in Pakistan: Find out about the Pakistani laws that control Benami Transactions. We dissect the pertinent statutes and laws, including The Benami Transaction Prohibited Act 2017 and other rules and regulations which is described in Pakistani Laws. We will also explain the complete for establishing or functions of adjudicating Authority and trial procedure in Federal Tribunal also explain appeal procedure against the order of the Federal Tribunal. Punishments for Benami Transactions: Under the Benami Transaction Prohibited Act 2017 the punishment of benami transaction is minimum 1 years and maximum 7 years and also liable to fine 25% of the fair price of the Property. Why is it Important to Know? In Pakistan a lot of people buy a property or assess in someone else’s name for protected our illegal income, save for paying tax and also illegal organization used benami transaction for money laundering etc. If you found this video helpful or informative, give it a thumbs up, share it with your network, and subscribe for more legal insights. Leave your comments and questions below – our legal experts are here to engage with you! #BenamiTransactions #PakistaniLaws #LegalInsights #PropertyLaw #LegalEducation 📌 Connect With Us: • Facebook: @thelawstudy42 • Twitter: @thelawstudy • Tiktok: @thelawstudy