State the provisions relating to 'Possession of property' for which the order of confiscation has been passed under the Benami Transactions (Prohibition) Act, 1988.
CS Executive · Economic, Business and Commercial Laws · PYQS · December 2024
State the provisions relating to 'Possession of property' for which the order of confiscation has been passed under the Benami Transactions (Prohibition) Act, 1988.
Answer & Explanation:
Section 29 of the Benami Transactions (Prohibition) Act, 1988, relates to possession of the property. Section 29(1) provides that where an order of confiscation in respect of a property under Section 27(1) has been made, the Administrator shall proceed to take the possession of such property. Section 29 (2) of this section provides that the Administrator shall: - by notice in writing, order within seven days of the date of the service of notice any person, who may be in possession of the benami property, to surrender or deliver possession thereof to the Administrator or any other person duly authorised in writing by him in this behalf; in the event of non-compliance of the order referred to in clause (a), or if in his opinion, taking over of immediate possession is warranted, for the purpose of forcibly taking over possession, requisition the service of any police officer to assist him and it shall be the duty such officer to comply with the requisition.
Topics: Commercial Laws
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