The Supreme Court of India. (File image)
While the Supreme Court holding that the confiscation/prosecution provisions in the Benami Act did not have retrospective ruling is indeed heartening, the principles laid down have even wider ramifications on PMLA and other laws. The ruling, hopefully, will lead to several draconian laws being toned down. The Supreme Court, as widely reported (here, here and here), has refused to give retrospective effect to the amendments in 2016 to the (as renamed) Prohibition of Benami Property Transactions Act, 1988 (Benami Law)....