law: Benami Transactions Act (Prohibition), 1988
  3. Prohibition of benami transactions-
  (1) No person shall enter into any benami
  
  transaction.
  (2) Nothing in sub-section (1) shall apply to
  
  the purchase of property by any person in the name of his wife or unmarried
  
  daughter and it shall be presumed, unless the contrary is proved, that the said
  
  property had been purchased for the benefit of the wife or the unmarried
  
  daughter.
  (3) Whoever enters into any benami transaction
  
  shall be punishable with imprisonment for a term which may extend to three
  
  years or with fine or with both.
  (4) Notwithstanding anything contained in the
  
  Code of Criminal Procedure, 1973 (2of 1974), an offence under this section
  
  shall be non-cognizable and bailable.