https://www.taxtmi.com/caselaws?id=152084 A bona fide mortgage created for adequate consideration was protected as a transfer in good faith and could not be treated as illegally acquired property liable to forfeiture. The bank's mortgage over the three houses was supported by loans advanced in return, and there was nothing to show mala fides. Accordingly, the mortgagee's interest was immune from forfeiture, while only the owner's residual equity of redemption in the properties could be forfeited to the Central Government free from encumbrances. en-us Mon, 04 May 1992 00:00:00 +0530 Mon, 24 Jun 2013 15:02:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=152084 A bona fide mortgage created for adequate consideration was protected as a transfer in good faith and could not be treated as illegally acquired property liable to forfeiture. The bank's mortgage over the three houses was supported by loans advanced in return, and there was nothing to show mala fides. Accordingly, the mortgagee's interest was immune from forfeiture, while only the owner's residual equity of redemption in the properties could be forfeited to the Central Government free from encumbrances. Case-Laws FEMA Mon, 04 May 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=152084