transfer of property act
vijeta
(Querist) 25 January 2010
This query is : Resolved
what are benami transactions?
what are hawala transaction?
thanks.
Raj Kumar Makkad
(Expert) 25 January 2010
benami transactions are those transactions which are made in the name of some other person within the limits of a country whereas hawala transactions start from one country and end in another which involve both parties through a third thread. Benami transactions are prohibited in India and same is the condition with hawala transactions. money laundering is the aim of hawala.
n.k.sarin
(Expert) 25 January 2010
agree with Rajkumar jee
A V Vishal
(Expert) 25 January 2010
Havala means illegal trade in currency exchange, it involves selling of foreign currency at black market rates; also clandestine transfer of foreign exchange abroad in lieu of Indian currency paid here.
Benami purchases are purchases in false name of another person, who does not pay the consideration but merely lends his name, while the real title vests in another person who actually purchased the property and he is the beneficial owner. Benami transactions used to take place to evade law .
G. ARAVINTHAN
(Expert) 31 January 2010
'A' buys a property from 'C' on name of 'B', when B is A' close relation - Benami
'A' when the same is done for a commercial purpose, then it is Hawala
Swami Sadashiva Brahmendra Sar
(Expert) 25 January 2010
