• India stood at 86^th rank in the Transparency International’s Corruption Perception Index

this shows how corruption is deep rooted in the system.

• Right to Live Happily and with dignity is guaranteed under Article 21 of the Constitution but due to massive corruption, our ranking in Happiness index is very low.

• The  BENAMI TRANSACTIONS (PROHIBITION) ACT, 1988 had only 9 sections .

• The recently amended Benami Transaction (Prohibition) Amendment Act 2016, has 8 chapters and 71 sections The amended act seeks to amend the definition of benami transaction. It has established authorities and procedure to inquire into such matters and specified the punishment.

• It is worth mentioning that in the case of Shanmuga Patro v. Ministry of Finance, in 2012, a writ petition was filed in Delhi High Court with a prayer to have the Court appoint a competent authority contemplated under Section 5 of the 1988 Act, and thereby frame rules in relation to the procedure to be adopted by the said authority for acquiring benami properties. However, the Court dismissed the writ petition by stating that it was beyond the powers of the judiciary to undertake such action.

• In light of the above, Chapter III of the Amendment Act seeks to remove the lacunae of the 1988 Act and provide more clarity on the aforesaid issue.

• Section 19 empowers any authority constituted under the Amendment Act to require any police officer, officer of the Central or State Government for conducting proceedings under the Act.

• Benami transactions have been a bane of the Indian economy since the 1980s, requiring a comprehensive legislation to curb the effects of such transactions which cripple a growing economy. All domestic benami transactions done since 1988 will fall under the purview of this amended act. Re transferring the property to the beneficiary owner will be invalid i.e. there is no way to escape from this trap.

• It has brought transparency in the real estate sector by adding correct title to the property. Buyers confidence has increase as they will be buying at reasonable price from the real owner of the property. Lenders confidence has increased as now there will be no multiple ownerships, unknown ownerships, and false ownerships. When titles are not clear, then it is very risky for the banks to provide loans on such property. So, bad debts have reduced.

• This Amendment Act has been passed in the midst of growing public sentiments against corruption and a drive against black money in India.

• The Amendment Act is one amongst a series of legislations being passed by the Government to stop circulation of unauthorized currency and purchase of unaccounted property in India.

• The inclination of the present Government to effectively curb fraudulent property transactions and bring transparency is therefore quite evident.

Perhaps the worse among all corruption is political corruption which essentially reflects a lack of serious political intent to end this menace.”As many as 110 complaints, including four against Members of Parliament, were received by anti-corruption ombudsman Lokpal during 2020-21, registering over 92 percent decline from the number of plaints received in 2019-20. The Lokpal had received 1,427 corruption complaints in 2019-20.