General Knowledge · Legal and Polity Terms
What is the true meaning of the legal term 'Benami' transaction?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Special commercial transactions where the real beneficiary remains fully traceable and officially accountable.
- 2Transactions where the real owner and the nominal owner are the same individual.
- 3Transactions done strictly in the legal name of a person called 'Benam'.
- 4Transactions made in the name of a person, where the consideration is paid by another person for whose immediate or future benefit it is made.✓
Correct answer
Transactions made in the name of a person, where the consideration is paid by another person for whose immediate or future benefit it is made.
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