Demonetisation Cash Routing Triggers Benami Action Despite RTGS Transfers

Bajrang Traders Vs Initiating Officer (Appellate Tribunal Under SAFEMA Delhi) The decision rendered by the Appellate Tribunal under SAFEMA, New Delhi, in M/s Bajrang Traders v. Initiating Officer, BPU, Ahmedabad, decided on 10 December 2025, is a significant exposition of the Prohibition of Benami Property Transactions Act, 1988, particularly in the context of demonetisation-era cash conversion and routing of funds through dummy bank accounts. The ruling provides authoritative clarity on the interpretation of key statutory definitions, the scope and content of “reasons to believe” under se...