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TMI Blog2019 (2) TMI 1334X X X X Extracts X X X X X X X X Extracts X X X X ..... nd Ms. B. Verma, Adv. For The U.O.I : Mr. Kaushik Chanda, Learned Additional Solicitor General Mr. Anil Gupta, Adv. Mrs. Debjani Ray, Adv ORDER The Court : A very interesting question of law of constitutional importance is raised in this appeal. It concerns the Prohibition of Benami Property Transactions Act, 1988 as amended by Act 43 of 2016 from 1st November, 2016. The subject matter of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... from 1988. Only amendments had been made in 2016 which did not interfere with accrued rights. The show-cause notice had been validly issued. Moreover under Section 26(7) of the said Act, no order could be passed under Section 24(5), that is to say, the substantive order on the show-cause notice, after the expiry of one year from the end of the month in which the reference under sub-Section 5 of Se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... company are separate legal entities and that a shareholder cannot be treated as a beneficial owner within the meaning of the amendment Act of 1988 in respect of a property owned by a company incorporated under the provisions of the Companies Act, 1956 needs to be gone into." The authority in our opinion cannot decide its own jurisdiction in such a case. It has to be decided by us. Only after su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... treated as provisional during the whole period the writ application and the appeal are pending before this Court. Subject to its result, the reference will be treated as final. Thereafter, time to pass the adjudication order under Section 26(7) of the said Act will start to run. Hence, it follows that the respondent authorities will not take any further steps in the matter till the disposal of th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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