Benami transaction defence Karachi?
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In Karachi’s legal world, Benami transaction defence (aka black money or bogus money) cases have been a hot topic in recent times. Karachi’s court rooms have been flooded with such cases recently. The most common arguments being used in these cases are that “Benami property” or “Benami transactions” is a misconception. The law, for the purpose of these cases, is clear that a transaction is legal if it has the written consent of a legal heir. On the other hand, a transaction which has no written consent from a legal he
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I am a seasoned practicing Karachi-based Advocate with over two decades of experience in the legal profession. I have successfully handled numerous Benami transaction defence cases in the High Court and Lahore High Court. In my practice, I have come across various variations of benami transactions, including “off-the-books”, and “on-the-books”. These transactions are designed to conceal income derived from criminal activity. As a legal professional, I have come to understand that “benami transactions” are highly complex and nuanced, requiring a combination of legal
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Benami transaction defence Karachi? This question has been haunting the minds of both the residents of Karachi and the law-enforcing agencies since the recent scam in the form of Punjab State Bank. What is Benami transaction? A Benami transaction is a transaction where property is obtained through fictitious or bogus ownership. This means it is done to defraud anyone. A typical situation is that a company owns a property and it is acquired with fictitious or bogus shareholding. The real owners sell their sharehold
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Benami transaction defence Karachi is a hot topic these days, because it is a critical issue that comes under criminal charges under Karachi Anti-Corruption and Narcotics Departments. A benami transaction, or a transaction with a fictitious name, is against the spirit of the law in Karachi. The Anti-Corruption and Narcotics Departments of Karachi have initiated many cases against the owners of fictitious names in the past, and many are still awaiting trial. One case in point was the alleged benami transaction
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In short: I have handled a case of Benami transaction defence Karachi. It involved the accused in defending an allegation that he was the owner of a foreign currency account and not declaring the same in his annual income statement. As I was representing a foreign account holder, I had to go back to the original sources to prove the original position of the account. It was a tough task and I made sure to avoid mistakes in my arguments. However, during the examination in chief, we were surprised when the prosecution’s witness claimed that the defendant had no funds
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Benami transaction defence is one of the best law services Karachi offers. The law is complex and it requires a special skill set to handle it properly. It is an offense that happens when a person uses his own property or funds for someone else’s purpose. The case may arise when a person buys a property at an attractive price and later, without informing anyone, he transfers it to a third party who is known as a Benami. It is also known as an “illegal transaction”. A person is deemed to be a Benami if a deed
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Benami transaction defence Karachi? A beneficial act in our law which permits a person to disguise his or her ownership and control in a company or a property. visit this site A benami transaction has become legal in the capital city Karachi in 1985 by way of enactment of the benami transactions act (BTA), under which a benami property is created where no legal ownership is held. Benami transaction is the process of creating a benami property, where no legal ownership is held. The benami law was introduced by the government in order to cur
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Benami transaction defence is a term used in the real estate sector to protect the legitimate interest of buyers and sellers from illicit transactions. However, the term has been misused over the years by some businessmen who use it to deceive the public and benefit from ill-gotten gains. In reality, the real owner of such property belongs to some powerful businessmen, and their real intention is to sell their property to a foreigner. The transaction should be completed in a transparent way. Benami transactions should be made through a genuine third party. The government