Supreme Court recalls judgment striking down provisions of Benami Transactions (Prohibition) Act

The Supreme Court recalled its judgment that struck down provisions of the Benami Transactions (Prohibition) Act, 1988. The court had previously declared Sections 3 and 5 of the Act unconstitutional, but upon review, it decided to reinstate them. The judgment emphasized the importance of these provisions in preventing benami transactions and ensuring transparency in property ownership. The court’s decision to recall its earlier judgment highlights the judiciary’s role in maintaining the integrity of laws aimed at curbing illegal financial practices and protecting the interests of legitimate property owners.