law: Benami Transactions Act (Prohibition), 1988
  2. Definitions. -
  In this Act, unless the context otherwise
  
  requires, --
  (a) "Benami transaction" means any
  
  transaction in which property is transferred to one person for a consideration
  
  paid or provided by another person:
  (b) "prescribed" means prescribed by
  
  rules made under this Act;
  (c) Property means property of any kind,
  
  whether movable or immovable, tangible or intangible, and includes any right or
  
  interest in such property.
  Comments: It may be noted that the Act is a
  
  piece of prohibitory legislation and it prohibits benami transactions
  subject to stated exceptions and makes such
  
  transactions punishable and also prohibits the right to defenses against
  
  recovery of benami transactions as defined in S. 2(a) of the Act. The
  
  Parliament has jurisdiction to pass a declaratory legislation. As a result of
  
  the provisions of the Act all properties held benami at the moment of the Act
  
  coming into force may be affected irrespective of their beginning, duration and
  
  origin. This will be so even if the legislation is not retrospective but only
  
  retroactive. Mithilesh Kumari v. Prem Behari Khare AIR 1989 SUPREME COURT
  
  1247