AIR 2013 PATNA 166

Patna High Court

Hon'ble Judge(s): Mungeshwar Sahoo , J

Transfer of Property Act (4 of 1882) , S.58(c), S.67, S.83— Suit for redemption of mortgage - Outright sale or mortgage by conditional sale - Determination - Deed in question embodied condition of repayment of consideration amount - Possession was delivered to mortgagee for 2 years during which mortgagor had to repay amount - No condition of re-conveyance - Only because market price had been paid, it could not be inferred that parties had intention to execute out and out sale deed - Terms and conditions in deed were in terms of S. 58(c) - Thus, there was mortgage by conditional sale - Mortgagor had deposited amount u/S. 83 - Mortgagee did not exercise right of foreclosure u/S. 67 - Suit for redemption decreed in favour of mortgagor. AIR 1963 SC 890, AIR 2007 SC 1256, AIR 2008 SC 2510 and AIR 2011 SC 382, Relied on. (Para 19 20 22 24 32) .....