On 27th July 2016, Lok Sabha passed the BTPA (Benami Transactions (Prohibition) Amendment) Bill, 2015. This bill will amend the 1988 BTA (Benami Transactions Act). This bill bans benami transactions & delivers for confiscation of benami properties. The objective of this new bill is to amend the benami transactions meaning. It will also create adjudicating authorities & an Appellate Court. This court will look into benami transactions. The bill also specifies benami transactions’ penalties. Four authorities have been specified for conducting inquiries. These are Approving Authority, Initiating Officer, Adjudicating Authority and Administrator.
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