The government on Wednesday approved setting up of Appellate Tribunal and Adjudicating Authority for speedy disposal of cases related to benami transactions.
The decision was taken at the Union Cabinet chaired by Prime Minister Narendra Modi, said Law Minister Ravi Shankar Prasad at a press conference.
Earlier this month, the government had notified sessions courts in 34 states and Union Territories, which will act as special courts for trial of offences under the benami transaction law.
Benami transaction refers to transactions made in a fictitious name, or the owner is not aware of the ownership of the property, or the person paying for the property is not traceable.
As per an official release, the Adjudicating Authority and Appellate Tribunal will be based in the National Capital Territory of Delhi (NCTD).
Benches of Adjudicating Authority may sit in Kolkata, Mumbai and Chennai, and the necessary notification in this regard will be issued after consultation with the Chairperson of the proposed Adjudicating Authority.
"The approval will result in effective and better administration of cases referred to the Adjudicating Authority and speedy disposal of appeals filed against the order of the Adjudicating Authority before the Appellate Tribunal," the release said.
The appointment of the Adjudicating Authority, it added, would provide first stage review of administrative action under the the Prohibition of Benami Property Transactions Act (PBPT) Act.
Establishment of the proposed Appellate Tribunal would provide an appellate mechanism for the order passed by the Adjudicating Authority under the PBPT Act.
The rules and all the provisions of the Benami Transactions (Prohibition) Act came into force on November 1, 2016.
After coming into effect, the existing Benami Transactions (Prohibition) Act, 1988, was renamed as the Prohibition of Benami Property Transactions Act, 1988.
"Natural Disasters Increasing Concerns": PM Modi On Independence Day In Pics: 10 Years Of PM Modi's Symbolic Headgears On Independence Day "Congress Involved In Creating Economic Anarchy": BJP On Hindenburg Report Nurse Raped, Killed On Way Home, Body Found 9 Days Later In UP "Took Advantage Of His Addiction": 5 Charged Over Matthew Perry's Death "Don't Expect Anything From Me": Kolkata Hospital's New Principal Loses Cool Ukraine, Russia Both Claim Advances In Kursk Region Gaza Ceasefire Talks Underway In Qatar As Deaths Top 40,000 Trump To Hold Press Conference, His Campaign Adds Senior Advisers Track Latest News Live on NDTV.com and get news updates from India and around the world.