AIR 2020 SUPREME COURT 930 ::AIR 2020 SC (Civil) 1037

Supreme Court Of India

(From: Karnataka)*

Hon'ble Judge(s): S. Abdul Nazeer, Deepak Gupta , JJ

(A) Transfer of Property Act (4 of 1882) , S.58(c)— Specific Relief Act (47 of 1963) , S.20— Sale or loan transaction - Determination - Sale deed and reconveyance agreement executed on same day - Transaction cannot be mortgaged by way of conditional sale in view of S. 58(c) - Recitals contained in sale deed showing property agreed to be sold for consideration and that possession already delivered under deed of mortgage - Clauses of sale deed and evidence on record showing that intention of parties was to make transaction a sale - Plea that sale deed executed as security for loan advanced by defendants and that it cannot be considered as sale - Not tenable. (Para 13) (B) Specific Relief Act (47 of 1963) , S.16(c)— Readiness and willingness - Suit for specific performance of agreement of reconveyance - Execution of reconveyance deed established - Debt dues paid by defendants to save suit property from auction - Mere plea that plaintiff is ready to pay consideration amount without any material to substantiate said plea, cannot be accepted - Plaintiff neither tendering consideration amount nor evidence showing that he has means to make arrangement for payment of consideration - Dismissal of earlier application for extinguishment of debt showing intention of plaintiff was not to pay amount as p....