The Prohibition of Benami Property Transactions Act, 1988
Administered Ministry: Ministry of Finance / Department of Revenue
Section
Section 1 Short title, extent and commencement.
1[(1) This Act may be called the Prohibition of Benami Property Transactions Act, 1988.]
(2) It extends to the whole of India 2***.
(3) The provisions of sections 3, 5 and 8 shall come into force at once, and the remaining provisions of this Act shall be deemed to have come into force on the 19th day of May, 1988.
(2) It extends to the whole of India 2***.
(3) The provisions of sections 3, 5 and 8 shall come into force at once, and the remaining provisions of this Act shall be deemed to have come into force on the 19th day of May, 1988.
1. Subs. by s. 3, ibid., for sub-section (1) (w.e.f. 1-11-2016).
2. The words "except the State of Jammu and Kashmir" omitted by Act 34 of 2019, s. 95 and the Fifth Schedule (w.e.f. 31-10- 2019).
2. The words "except the State of Jammu and Kashmir" omitted by Act 34 of 2019, s. 95 and the Fifth Schedule (w.e.f. 31-10- 2019).
Section 2 Definitions.
1 [2. Definitions.-- In this Act, unless the context otherwise requires,--
(1) Adjudicating Authority means the Adjudicating Authority 2[referred to in] section 7;
(2) Administrator means an Income-tax Officer as defined in clause (25) of section 2 of the Income-tax Act, 1961 (43 of 1961);
(3) Appellate Tribunal means the Appellate Tribunal established under section 30;
(4) Approving Authority means an Additional Commissioner or a Joint Commissioner as defined in clauses (1C) and (28C) respectively of section 2 of the Income-tax Act, 1961 (43 of 1961);
(5) attachment means the prohibition of transfer, conversion, disposition or movement of property, by an order issued under this Act;
(6) authority means an authority referred to in sub-section (1) of section 18;
(7) banking company means a company to which the provisions of the Banking Regulation Act, 1949 (10 of 1949), applies and includes any bank or banking institution referred to in section 51 of that Act;
(8) benami property means any property which is the subject matter of a benami transaction and also includes the proceeds from such property;
(9) benami transaction means,--
(A) a transaction or an arrangement--
(a) where a property is transferred to, or is held by, a person, and the consideration for such property has been provided, or paid by, another person; and
(b) the property is held for the immediate or future benefit, direct or indirect, of the person who has provided the consideration,
except when the property is held by--
(i) a Karta, or a member of a Hindu undivided family, as the case may be, and the property is held for his benefit or benefit of other members in the family and the consideration for such property has been provided or paid out of the known sources of the Hindu undivided family;
(ii) a person standing in a fiduciary capacity for the benefit of another person towards whom he stands in such capacity and includes a trustee, executor, partner, director of a company, a depository or a participant as an agent of a depository under the Depositories Act, 1996 (22 of 1996) and any other person as may be notified by the Central Government for this purpose;
(iii) any person being an individual in the name of his spouse or in the name of any child of such individual and the consideration for such property has been provided or paid out of the known sources of the individual;
(iv) any person in the name of his brother or sister or lineal ascendant or descendant, where the names of brother or sister or lineal ascendant or descendant and the individual appear as jointowners in any document, and the consideration for such property has been provided or paid out of the known sources of the individual; or
(B) a transaction or an arrangement in respect of a property carried out or made in a fictitious name; or
(C) a transaction or an arrangement in respect of a property where the owner of the property is not aware of, or, denies knowledge of, such ownership;
(D) a transaction or an arrangement in respect of a property where the person providing the consideration is not traceable or is fictitious;
Explanation.--For the removal of doubts, it is hereby declared that benami transaction shall not include any transaction involving the allowing of possession of any property to be taken or retained in part performance of a contract referred to in section 53A of the Transfer of Property Act, 1882 (4 of 1882), if, under any law for the time being in force,--
(i) consideration for such property has been provided by the person to whom possession of property has been allowed but the person who has granted possession thereof continues to hold ownership of such property;
(ii) stamp duty on such transaction or arrangement has been paid; and
(iii) the contract has been registered.
(10) benamidar means a person or a fictitious person, as the case may be, in whose name the benami property is transferred or held and includes a person who lends his name;
(11) Bench means a Bench of the Adjudicating Authority or the Appellate Tribunal, as the case may be;
(12) beneficial owner means a person, whether his identity is known or not, for whose benefit the benami property is held by a benamidar;
(13) Board means the Central Board of Direct Taxes constituted under the Central Boards of Revenue Act, 1963 (54 of 1963);
(14) director shall have the same meaning as assigned to it in clause (34) of section 2 of the Companies Act, 2013 (18 of 2013);
(15) executor shall have the same meaning as assigned to it in clause (c) of section 2 of the Indian Succession Act, 1925 (39 of 1925);
(16) fair market value, in relation to a property, means--
(i) the price that the property would ordinarily fetch on sale in the open market on the date of the transaction; and
(ii) where the price referred to in sub-clause (i) is not ascertainable, such price as may be determined in accordance with such manner as may be prescribed;
(17) firm shall have the same meaning as assigned to it in section 4 of the Indian Partnership Act, 1932 (9 of 1932) and shall include a limited liability partnership as defined in the Limited Liability Partnership Act, 2008 (6 of 2009);
(18) High Court means--
(i) the High Court within the jurisdiction of which the aggrieved party ordinarily resides or carries on business or personally works for gain; 2***
(ii) where the Government is the aggrieved party, the High Court within the jurisdiction of which the respondent, or in a case where there are more than one respondent, any of the respondents, ordinarily resides or carries on business or personally works for gain; 3[and]
3[(iii) the High Court within the jurisdiction of which the office of the Initiating Officer is located,--
(a) where the aggrieved party does not ordinarily reside or carry on business or personally work for gain in the jurisdiction of any High Court;
(b) where the Government is the aggrieved party and any of the respondents do not ordinarily reside or carry on business or personally work for gain in the jurisdiction of any High Court;]
(19) Initiating Officer means an Assistant Commissioner or a Deputy Commissioner as defined in clauses (9A) and (19A) respectively of section 2 of the Income-tax Act, 1961 (43 of 1961);
(20) Member means the Chairperson or the Member of the Adjudicating Authority or the Appellate Tribunal, as the case may be;
(21) notification means a notification published in the Official Gazette and the expression notified shall be construed accordingly;
(22) partner shall have the same meaning as assigned to it in section 4 of the Indian Partnership Act, 1932 (9 of 1932), and shall include,--
(a) any person who, being a minor, has been admitted to the benefits of partnership; and
(b) a partner of a limited liability partnership formed and registered under the Limited Liability Partnership Act, 2008 (6 of 2009);
(23) partnership shall have the same meaning as assigned to it in section 4 of the Indian Partnership Act, 1932 (9 of 1932), and shall include a limited liability partnership formed and registered under the Limited Liability Partnership Act, 2008 (6 of 2009);
(24) person shall include--
(i) an individual;
(ii) a Hindu undivided family;
(iii) a company;
(iv) a firm;
(v) an association of persons or a body of individuals, whether incorporated or not;
(vi) every artificial juridical person, not falling under sub-clauses (i) to (v);
(25) prescribed means prescribed by rules made under this Act;
(26) property means assets of any kind, whether movable or immovable, tangible or intangible, corporeal or incorporeal and includes any right or interest or legal documents or instruments evidencing title to or interest in the property and where the property is capable of conversion into some other form, then the property in the converted form and also includes the proceeds from the property;
(27) public financial institution shall have the same meaning as assigned to it in clause (72) of section 2 of the Companies Act, 2013 (18 of 2013);
(28) Special Court means a Court of Session designated as Special Court under sub-section (1) of section 50;
(29) transfer includes sale, purchase or any other form of transfer of right, title, possession or lien;
(30) trustee means the trustee as defined in the section 3 of the Indian Trusts Act, 1882 (2 of 1882);
(31) words and expressions used herein and not defined in this Act but defined in the Indian Trusts Act, 1882 (2 of 1882), the Indian Succession Act, 1925 (39 of 1925), the Indian Partnership Act, 1932 (9 of 1932), the Income-tax Act, 1961 (43 of 1961), the Depositories Act, 1996 (22 of 1996), the Prevention of Money-Laundering Act, 2002 (15 of 2003), the Limited Liability Partnership Act, 2008 (6 of 2009) and the Companies Act, 2013 (18 of 2013), shall have the same meanings respectively assigned to them in those Acts. ]
(1) Adjudicating Authority means the Adjudicating Authority 2[referred to in] section 7;
(2) Administrator means an Income-tax Officer as defined in clause (25) of section 2 of the Income-tax Act, 1961 (43 of 1961);
(3) Appellate Tribunal means the Appellate Tribunal established under section 30;
(4) Approving Authority means an Additional Commissioner or a Joint Commissioner as defined in clauses (1C) and (28C) respectively of section 2 of the Income-tax Act, 1961 (43 of 1961);
(5) attachment means the prohibition of transfer, conversion, disposition or movement of property, by an order issued under this Act;
(6) authority means an authority referred to in sub-section (1) of section 18;
(7) banking company means a company to which the provisions of the Banking Regulation Act, 1949 (10 of 1949), applies and includes any bank or banking institution referred to in section 51 of that Act;
(8) benami property means any property which is the subject matter of a benami transaction and also includes the proceeds from such property;
(9) benami transaction means,--
(A) a transaction or an arrangement--
(a) where a property is transferred to, or is held by, a person, and the consideration for such property has been provided, or paid by, another person; and
(b) the property is held for the immediate or future benefit, direct or indirect, of the person who has provided the consideration,
except when the property is held by--
(i) a Karta, or a member of a Hindu undivided family, as the case may be, and the property is held for his benefit or benefit of other members in the family and the consideration for such property has been provided or paid out of the known sources of the Hindu undivided family;
(ii) a person standing in a fiduciary capacity for the benefit of another person towards whom he stands in such capacity and includes a trustee, executor, partner, director of a company, a depository or a participant as an agent of a depository under the Depositories Act, 1996 (22 of 1996) and any other person as may be notified by the Central Government for this purpose;
(iii) any person being an individual in the name of his spouse or in the name of any child of such individual and the consideration for such property has been provided or paid out of the known sources of the individual;
(iv) any person in the name of his brother or sister or lineal ascendant or descendant, where the names of brother or sister or lineal ascendant or descendant and the individual appear as jointowners in any document, and the consideration for such property has been provided or paid out of the known sources of the individual; or
(B) a transaction or an arrangement in respect of a property carried out or made in a fictitious name; or
(C) a transaction or an arrangement in respect of a property where the owner of the property is not aware of, or, denies knowledge of, such ownership;
(D) a transaction or an arrangement in respect of a property where the person providing the consideration is not traceable or is fictitious;
Explanation.--For the removal of doubts, it is hereby declared that benami transaction shall not include any transaction involving the allowing of possession of any property to be taken or retained in part performance of a contract referred to in section 53A of the Transfer of Property Act, 1882 (4 of 1882), if, under any law for the time being in force,--
(i) consideration for such property has been provided by the person to whom possession of property has been allowed but the person who has granted possession thereof continues to hold ownership of such property;
(ii) stamp duty on such transaction or arrangement has been paid; and
(iii) the contract has been registered.
(10) benamidar means a person or a fictitious person, as the case may be, in whose name the benami property is transferred or held and includes a person who lends his name;
(11) Bench means a Bench of the Adjudicating Authority or the Appellate Tribunal, as the case may be;
(12) beneficial owner means a person, whether his identity is known or not, for whose benefit the benami property is held by a benamidar;
(13) Board means the Central Board of Direct Taxes constituted under the Central Boards of Revenue Act, 1963 (54 of 1963);
(14) director shall have the same meaning as assigned to it in clause (34) of section 2 of the Companies Act, 2013 (18 of 2013);
(15) executor shall have the same meaning as assigned to it in clause (c) of section 2 of the Indian Succession Act, 1925 (39 of 1925);
(16) fair market value, in relation to a property, means--
(i) the price that the property would ordinarily fetch on sale in the open market on the date of the transaction; and
(ii) where the price referred to in sub-clause (i) is not ascertainable, such price as may be determined in accordance with such manner as may be prescribed;
(17) firm shall have the same meaning as assigned to it in section 4 of the Indian Partnership Act, 1932 (9 of 1932) and shall include a limited liability partnership as defined in the Limited Liability Partnership Act, 2008 (6 of 2009);
(18) High Court means--
(i) the High Court within the jurisdiction of which the aggrieved party ordinarily resides or carries on business or personally works for gain; 2***
(ii) where the Government is the aggrieved party, the High Court within the jurisdiction of which the respondent, or in a case where there are more than one respondent, any of the respondents, ordinarily resides or carries on business or personally works for gain; 3[and]
3[(iii) the High Court within the jurisdiction of which the office of the Initiating Officer is located,--
(a) where the aggrieved party does not ordinarily reside or carry on business or personally work for gain in the jurisdiction of any High Court;
(b) where the Government is the aggrieved party and any of the respondents do not ordinarily reside or carry on business or personally work for gain in the jurisdiction of any High Court;]
(19) Initiating Officer means an Assistant Commissioner or a Deputy Commissioner as defined in clauses (9A) and (19A) respectively of section 2 of the Income-tax Act, 1961 (43 of 1961);
(20) Member means the Chairperson or the Member of the Adjudicating Authority or the Appellate Tribunal, as the case may be;
(21) notification means a notification published in the Official Gazette and the expression notified shall be construed accordingly;
(22) partner shall have the same meaning as assigned to it in section 4 of the Indian Partnership Act, 1932 (9 of 1932), and shall include,--
(a) any person who, being a minor, has been admitted to the benefits of partnership; and
(b) a partner of a limited liability partnership formed and registered under the Limited Liability Partnership Act, 2008 (6 of 2009);
(23) partnership shall have the same meaning as assigned to it in section 4 of the Indian Partnership Act, 1932 (9 of 1932), and shall include a limited liability partnership formed and registered under the Limited Liability Partnership Act, 2008 (6 of 2009);
(24) person shall include--
(i) an individual;
(ii) a Hindu undivided family;
(iii) a company;
(iv) a firm;
(v) an association of persons or a body of individuals, whether incorporated or not;
(vi) every artificial juridical person, not falling under sub-clauses (i) to (v);
(25) prescribed means prescribed by rules made under this Act;
(26) property means assets of any kind, whether movable or immovable, tangible or intangible, corporeal or incorporeal and includes any right or interest or legal documents or instruments evidencing title to or interest in the property and where the property is capable of conversion into some other form, then the property in the converted form and also includes the proceeds from the property;
(27) public financial institution shall have the same meaning as assigned to it in clause (72) of section 2 of the Companies Act, 2013 (18 of 2013);
(28) Special Court means a Court of Session designated as Special Court under sub-section (1) of section 50;
(29) transfer includes sale, purchase or any other form of transfer of right, title, possession or lien;
(30) trustee means the trustee as defined in the section 3 of the Indian Trusts Act, 1882 (2 of 1882);
(31) words and expressions used herein and not defined in this Act but defined in the Indian Trusts Act, 1882 (2 of 1882), the Indian Succession Act, 1925 (39 of 1925), the Indian Partnership Act, 1932 (9 of 1932), the Income-tax Act, 1961 (43 of 1961), the Depositories Act, 1996 (22 of 1996), the Prevention of Money-Laundering Act, 2002 (15 of 2003), the Limited Liability Partnership Act, 2008 (6 of 2009) and the Companies Act, 2013 (18 of 2013), shall have the same meanings respectively assigned to them in those Acts. ]
1. Subs. by s. 4, ibid., for section 2 (w.e.f. 1-11-2016).
2. The word "and" omitted by Act 8 of 2023, s. 171 (w.e.f. 1-4-2023).
3. Ins. by s. 171, ibid. (w.e.f. 1-4-2023).
2. The word "and" omitted by Act 8 of 2023, s. 171 (w.e.f. 1-4-2023).
3. Ins. by s. 171, ibid. (w.e.f. 1-4-2023).
Section 3 Prohibition of benami transactions.
1[3. Prohibition of benami transactions.--(1) No person shall enter into any benami transaction.
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3 [(2)] Whoever enters into any benami transaction shall be punishable with imprisonment for a term which may extend to three years or with fine or with both.
4 [(3) Whoever enters into any benami transaction on and after the date of commencement of the Benami Transactions (Prohibition) Amendment Act, 2016 (43 of 2016) shall, notwithstanding anything contained in sub-section (2), be punishable in accordance with the provisions contained in Chapter VII.]
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2 * * * * *
3 [(2)] Whoever enters into any benami transaction shall be punishable with imprisonment for a term which may extend to three years or with fine or with both.
4 [(3) Whoever enters into any benami transaction on and after the date of commencement of the Benami Transactions (Prohibition) Amendment Act, 2016 (43 of 2016) shall, notwithstanding anything contained in sub-section (2), be punishable in accordance with the provisions contained in Chapter VII.]
5 * * * * *
1. Ins. by Act 43 of 2016, s. 5 (w.e.f. 1-11-2016).
2. Omitted by s. 6, ibid. (w.e.f. 1-11-2016).
3. Sub-section (3) renumbered as sub-section (2) thereof by s. 6, ibid. (w.e.f. 1-11-2016).
4. Ins. by s. 6, ibid (w.e.f. 1-11-2016).
5. Omitted by s. 6, ibid. (w.e.f. 1-11-2016).
2. Omitted by s. 6, ibid. (w.e.f. 1-11-2016).
3. Sub-section (3) renumbered as sub-section (2) thereof by s. 6, ibid. (w.e.f. 1-11-2016).
4. Ins. by s. 6, ibid (w.e.f. 1-11-2016).
5. Omitted by s. 6, ibid. (w.e.f. 1-11-2016).
Section 4 Prohibition of the right to recover property held benami.
(1) No suit, claim or action to enforce any right in respect of any property held benami against the person in whose name the property is held or against any other person shall lie by or on behalf of a person claiming to be the real owner of such property.
(2) No defence based on any right in respect of any property held benami, whether against the person in whose name the property is held or against any other person, shall be allowed in any suit, claim or action by or on behalf of a person claiming to be the real owner of such property.
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(2) No defence based on any right in respect of any property held benami, whether against the person in whose name the property is held or against any other person, shall be allowed in any suit, claim or action by or on behalf of a person claiming to be the real owner of such property.
1 * * * * *
1. Omitted by s. 7, ibid. (w.e.f. 1-11-2016).
Section 5 Property held benami liable to confiscation.
1 [5. Property held benami liable to confiscation.--Any property, which is subject matter of benami transaction, shall be liable to be confiscated by the Central Government.]
1. Subs. by s. 8, ibid., for sections 5 and 6 (w.e.f. 1-11-2016).
Section 6 Prohibition on re-transfer of property by benamidar.
1[6. Prohibition on re-transfer of property by benamidar.--(1) No person, being a benamidar shall re-transfer the benami property held by him to the beneficial owner or any other person acting on his behalf.
(2) Where any property is re-transferred in contravention of the provisions of sub-section (1), the transaction of such property shall be deemed to be null and void.
(3) The provisions of sub-sections (1) and (2) shall not apply to a transfer made in accordance with the provisions of section 190 of the Finance Act, 2016 (28 of 2016).]
(2) Where any property is re-transferred in contravention of the provisions of sub-section (1), the transaction of such property shall be deemed to be null and void.
(3) The provisions of sub-sections (1) and (2) shall not apply to a transfer made in accordance with the provisions of section 190 of the Finance Act, 2016 (28 of 2016).]
1. Subs. by s. 8, ibid., for sections 5 and 6 (w.e.f. 1-11-2016).
Section 7 Adjudicating Authority.
1[7.Adjudicating Authority.--—The competent authority authorised under sub-section (1) of section 5 of the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act, 1976 (13 of 1976) shall be the Adjudicating Authority to exercise jurisdiction, powers and authority conferred by or under this Act.]
1. Subs. by Act 13 of 2021, s. 155, for section 7 (w.e.f. 1-7-2021).
Section 8 Composition of Authority.
Composition of Authority.--Omitted by Act 13 of 2021, s. 156 (w.e.f. 01-07-2021).
Section 9 Qualifications for appointment of Chairperson and Members.
Qualifications for appointment of Chairperson and Members.--Omitted by Act 13 of 2021, s.156 (w.e.f. 01-07-2021).
Section 10 Constitution of Benches of Adjudicating Authority.
Constitution of Benches of Adjudicating Authority.--Omitted by ibid, s. 156 (w.e.f. 01-07-2021).
Section 11 Power of Adjudicating Authority to regulate its own procedure.
11. Power of Adjudicating Authority to regulate its own procedure.--Omitted by ibid, s. 156 (w.e.f. 01-07-2021)
Section 12 Term of office of Chairperson and Members of Adjudicating Authority.
Term of office of Chairperson and Members of Adjudicating Authority.—Omitted by ibid, s. 156 (w.e.f. 01-07-2021)
Section 13 Terms and conditions of services of Chairperson and Members of Adjudicating Authority.
Terms and conditions of services of Chairperson and Members of Adjudicating Authority.--Omitted by ibid, s. 156 (w.e.f. 01-07-2021).
Section 14 Removal of Chairperson and Members of Adjudicating Authority.
Removal of Chairperson and Members of Adjudicating Authority.--Omitted by ibid, s. 156 (w.e.f. 01-07-2021).
Section 15 Member to act as Chairperson in certain circumstances.
Member to act as Chairperson in certain circumstances.--Omitted by ibid, s. 156 (w.e.f. 01-07-2021)
Section 16 Vacancies, etc., not to invalidate proceedings of Adjudicating Authority.
Vacancies, etc., not to invalidate proceedings of Adjudicating Authority.--—Omitted by ibid, s. 156 (w.e.f. 01-07-2021)
Section 17 Officers and employees of Adjudicating Authority.
Officers and employees of Adjudicating Authority.--—Omitted by ibid, s. 156 (w.e.f. 01-07-2021
Section 18 Authorities and jurisdiction.
1[18. Authorities and jurisdiction.--(1) The following shall be the authorities for the purposes of this Act, namely:--
(a) the Initiating Officer;
(b) the Approving Authority;
(c) the Administrator; and
(d) the Adjudicating Authority.
(2) The authorities shall exercise all or any of the powers and perform all or any of the functions conferred on, or, assigned, as the case may be, to it under this Act or in accordance with such rules as may be prescribed.]
(a) the Initiating Officer;
(b) the Approving Authority;
(c) the Administrator; and
(d) the Adjudicating Authority.
(2) The authorities shall exercise all or any of the powers and perform all or any of the functions conferred on, or, assigned, as the case may be, to it under this Act or in accordance with such rules as may be prescribed.]
1. Ins. by s. 9, ibid. (w.e.f. 1-11-2016).
Section 19 Powers of authorities.
1[19. Powers of authorities.--(1) The authorities shall, for the purposes of this Act, have the same powers as are vested in a civil court under the Code of Civil Procedure, 1908 (5 of 1908), while trying a suit in respect of the following matters, namely:--
(a) discovery and inspection;
(b) enforcing the attendance of any person, including any official of a banking company or a public financial institution or any other intermediary or reporting entity, and examining him on oath;
(c) compelling the production of books of account and other documents;
(d) issuing commissions;
(e) receiving evidence on affidavits; and
(f) any other matter which may be prescribed.
(2) All the persons summoned under sub-section (1) shall be bound to attend in person or through authorised agents, as any authority under this Act may direct, and shall be bound to state the truth upon any subject respecting which they are examined or make statements, and produce such documents as may be required.
(3) Every proceeding under sub-section (1) or sub-section (2) shall be deemed to be a judicial proceeding within the meaning of section 193 and section 228 of the Indian Penal Code (45 of 1860).
(4) For the purposes of this Act, any authority under this Act may requisition the service of any police officer or of any officer of the Central Government or State Government or of both to assist him for all or any of the purposes specified in sub-section (1), and it shall be the duty of every such officer to comply with the requisition or direction.
(5) For the purposes of this section, "reporting entity" means any intermediary or any authority or of the Central or the State Government or any other person as may be notified in this behalf.
Explanation.--For the purposes of sub-section (5), "intermediary" shall have the same meaning as assigned to it in clause (n) of sub-section (1) of section 2 of the Prevention of Money-Laundering Act, 2002 (15 of 2003).]
(a) discovery and inspection;
(b) enforcing the attendance of any person, including any official of a banking company or a public financial institution or any other intermediary or reporting entity, and examining him on oath;
(c) compelling the production of books of account and other documents;
(d) issuing commissions;
(e) receiving evidence on affidavits; and
(f) any other matter which may be prescribed.
(2) All the persons summoned under sub-section (1) shall be bound to attend in person or through authorised agents, as any authority under this Act may direct, and shall be bound to state the truth upon any subject respecting which they are examined or make statements, and produce such documents as may be required.
(3) Every proceeding under sub-section (1) or sub-section (2) shall be deemed to be a judicial proceeding within the meaning of section 193 and section 228 of the Indian Penal Code (45 of 1860).
(4) For the purposes of this Act, any authority under this Act may requisition the service of any police officer or of any officer of the Central Government or State Government or of both to assist him for all or any of the purposes specified in sub-section (1), and it shall be the duty of every such officer to comply with the requisition or direction.
(5) For the purposes of this section, "reporting entity" means any intermediary or any authority or of the Central or the State Government or any other person as may be notified in this behalf.
Explanation.--For the purposes of sub-section (5), "intermediary" shall have the same meaning as assigned to it in clause (n) of sub-section (1) of section 2 of the Prevention of Money-Laundering Act, 2002 (15 of 2003).]
1. Ins. by s. 9, ibid. (w.e.f. 1-11-2016).
Section 20 Certain officers to assist in inquiry, etc.
1[20. Certain officers to assist in inquiry, etc.--The following officers shall assist the authorities in the enforcement of this Act, namely:--
(a) income-tax authorities appointed under sub-section (1) of section 117 of the Income-tax Act, 1961 (43 of 1961);
(b) officers of the Customs and Central Excise Departments;
(c) officers appointed under sub-section (1) of section 5 of the Narcotic Drugs and Psychotropic Substances Act, 1985 (61 of 1985);
(d) officers of the stock exchange recognised under section 4 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956);
(e) officers of the Reserve Bank of India constituted under sub-section (1) of section 3 of the Reserve Bank of India Act, 1934 (2 of 1934);
(f) police;
(g) officers of enforcement appointed under sub-section (1) of section 36 of the Foreign Exchange Management Act, 1999 (40 of 1999);
(h) officers of the Securities and Exchange Board of India established under section 3 of the Securities and Exchange Board of India Act, 1992 (15 of 1992);
(i) officers of any other body corporate constituted or established under a Central or a State Act; and
(j) such other officers of the Central Government, State Government, local authorities or banking companies as the Central Government may, by notification, specify, in this behalf.]
(a) income-tax authorities appointed under sub-section (1) of section 117 of the Income-tax Act, 1961 (43 of 1961);
(b) officers of the Customs and Central Excise Departments;
(c) officers appointed under sub-section (1) of section 5 of the Narcotic Drugs and Psychotropic Substances Act, 1985 (61 of 1985);
(d) officers of the stock exchange recognised under section 4 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956);
(e) officers of the Reserve Bank of India constituted under sub-section (1) of section 3 of the Reserve Bank of India Act, 1934 (2 of 1934);
(f) police;
(g) officers of enforcement appointed under sub-section (1) of section 36 of the Foreign Exchange Management Act, 1999 (40 of 1999);
(h) officers of the Securities and Exchange Board of India established under section 3 of the Securities and Exchange Board of India Act, 1992 (15 of 1992);
(i) officers of any other body corporate constituted or established under a Central or a State Act; and
(j) such other officers of the Central Government, State Government, local authorities or banking companies as the Central Government may, by notification, specify, in this behalf.]
1. Ins. by s. 9, ibid. (w.e.f. 1-11-2016).