<s>[INST] What are the prosecution provisions for a person who enters into a Benami transaction? [/INST] Whoever enters into any benami transaction on or after 01-11-2016 shall be punishable in accordance with Section 53 of the Act. Section 53(1) provides

that where any person enters into a benami transaction in order to defeat the provisions of any law, to avoid payment of statutory dues or to avoid payment to creditors, the following shall be guilty of the offence of benami transaction:

Beneficial owner,
Benamidar and
Any other person who abets or induces any person to enter into a benami transaction
Where any person is found guilty of the offence of benami transaction as above,

he shall be punishable with rigorous imprisonment for a term not less than one year but which may extend to 7 years and
he shall also be liable to a fine which may extend to 25% of the fair market value of the property.​ </s>