New SIDBI Grade A New Batch Starts on Nov 18

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    Question

    Any such transaction, in which any property is transferred in the name of one person and payment is made by another person is known as?

    A Benami transaction Correct Answer Incorrect Answer
    B Black Money Correct Answer Incorrect Answer
    C Hawala Correct Answer Incorrect Answer
    D Money Laundering Correct Answer Incorrect Answer

    Solution

    In Benami Transaction, a property is transferred or held by one person (Mr A, the ‘Benamidar’) and the consideration for such property is paid by another person (mr. B, the ‘beneficial owner’).

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