Hundreds of people and businesses are waiting for a Supreme Court decision on whether the Benami rule, one of the strictest in the country, may be implemented retroactively.

With the invocation of the Benami Transactions (Prohibition) Revision Act, which came into force on November 1, 2016, following the amendment of a 28-year-old ineffective statute, a multitude of transactions such as cash transfers, property acquisitions, and share issuances have come under scrutiny.