AdvertisementArpit Katyal Vs Initiating Officer (Appellate Tribunal Under SAFEMA Delhi) SAFEMA Tribunal Upholds Benami Attachment in Keyal Group Case; Holds Transactions with Fictitious Entity Justify Attachment of Beneficial Owner’s Bank Funds The Appellate Tribunal under SAFEMA dismissed a batch of appeals filed by members of the Katyal family and Nirmal Katyal HUF, upholding the provisional attachment under the Prohibition of Benami Property Transactions Act, 1988 (PBPT Act). The proceedings arose from an Income-tax search on the Keyal Group, which revealed alleged fictitious purchases from M/s Sa...