https://www.taxtmi.com/caselaws?id=125597 Purchasers who acquired property before a forfeiture order under the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act, 1976 were entitled to notice and a hearing before their claim was ignored. The statutory scheme under Section 6 requires notice to persons holding the property, including those asserting an independent title, while Section 2(2)(e) recognises a transferee in good faith for adequate consideration and Section 11 does not dispense with hearing where the transferee claims prior acquisition. Because the purchasers claimed bona fide transferee status and were excluded from the process, the forfeiture order could not stand and was quashed, with the matter remitted for fresh consideration on that limited issue. en-us Wed, 12 Sep 2007 00:00:00 +0530 Sat, 27 Dec 2014 15:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=125597 Purchasers who acquired property before a forfeiture order under the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act, 1976 were entitled to notice and a hearing before their claim was ignored. The statutory scheme under Section 6 requires notice to persons holding the property, including those asserting an independent title, while Section 2(2)(e) recognises a transferee in good faith for adequate consideration and Section 11 does not dispense with hearing where the transferee claims prior acquisition. Because the purchasers claimed bona fide transferee status and were excluded from the process, the forfeiture order could not stand and was quashed, with the matter remitted for fresh consideration on that limited issue. Case-Laws Indian Laws Wed, 12 Sep 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=125597