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2021 (4) TMI 1325 - TELANGANA HIGH COURTProhibition of Benami Property Transactions - contention of the petitioner as sought to apply the provisions of the Prohibition of Benami Property Transactions Act, 1988 as amended in 2016 to transactions which took place much prior there to in 2013, and such action in giving retrospective affect to provisions which have penal consequences (such as Section 24 introduced by 2016 amendment) is contrary to Article 20(1) of the Constitution of lndia. He also contends that there has been a violation of principles of natural justice since the order was passed without providing the documents and the statements relied upon by the 1"t respondent and without giving opportunity to the petitioner to rebut them, apart from without giving the opportunity to cross-examine persons whose statements were sought to be used against the petitioner and also the impugned order travels way beyond the allegations contained in the show-cause notice HELD THAT:- We find considerable force in the said submissions. Therefore, there shall be interim stay as prayed for, subject to the condition that the petitioner does not transfer 4,50,000 shares of the petitioner allotted in the financial year 2011-12 on'14.12.2011 in the name of the 3'd respondent.
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