Benami property
Vijay Kumar
(Querist) 23 February 2017
This query is : Open
Sir My question is regarding Benami Property as like :
Original Allottees Say Mr. A and Mrs. A has been allotted a DDA Plot by DDA on leasehold basis. Mr. A and Mrs A sold out a his DDA plot to a financier Mr. B for an amount of Rs.30 Lakhs on lease hold basis by executing agreement of sale in 2015 in the favor of Mr. B. No sale deed was made and registered between Mr. A and Mrs A and Mr.B before 8th November 2016 to avoid the stamp duty. There is no clarity on Payment mode between Mr. B and Mr. A and Mrs. A and No idea about registered Power of attorney between Mr.A and Mrs.A and Mr.B.
Later on, in Sep 2016, Mr B (first party) made an agreement of sale of same property by mentioning "forself and on behalf of Mr A and Mrs A" to sell this property with freehold right to Mr.C (second party) for sale amount of Rs.44 Lakhs (Rs.10 lakhs as earnest money and Rs.34 as balance money to be paid at the time of registration of sale deed). Mr. C paid earnest money to Mr. B by cheque at the time of execution of agreement of sale between Mr. B and Mr.C. One thing has been mentioned in agreement is that First party shall execute the deed.
Now Mr A and Mrs A (Original Allottees) applied to DDA for freehold the property after date of agreement of sale between Mr. B and Mr.C. Mr. A and Mrs. A got conveyance deed of a house at same plot in his name i.e. Mr.A and Mrs. B in November, 2016. Now there is no construction. Only vacant plot is there. No electricity, water connection is there. No body is living there.
Mr. C had applied for bank loan to pay out balance amount of Rs.34 Lakh. That amount to be paid out to in the favour of Mr. A and Mrs A. Mr. B said he will return the Rs. 10 lakhs to Mr. C and then Mr. C will pay the amount to Mr.A and Mrs A to show as margin money for the purpose of bank loan. Now Sale deed will be made between Mr. A and Mrs A and Mr. C and same will be got registered by Mr. C.
My questions are that:
1 Whether these transaction come under purview of the Benami Transactions (Prohibition) Amendment Act, 2016.
2. Who will be the culprit?
3. There are any legal remedy available in view of Policy of Demonetisation by Central Government on 8th November, 2016.
4. Whether Mr A and Mrs A are transferring same property twice i.e. firstly from Mr. A and Mrs A to Mr. B and secondly Mr. A to Mr. C.
5. What will happen about deal made between Mr. B and Mr. C?
6. Can Mr A and Mrs A are benamidar as per Benami Transactions (Prohibition) Amendment Act, 2016. if so, Can both transfer the same property to Mr C.
What are the legal remedies to Mr A & Mrs A; Mr B and Mr C .
