In Brief
A man mortgaged his land to secure a loan by executing a 'Deed of Conditional Sale' in 1969, allowing the mortgagee to hold the land for five years. The mortgagor later sued to redeem (recover) the land by repaying the loan. Meanwhile, the mortgagee sold the land to a third party. The High Court upheld the suit, finding the deed was a mortgage (not an absolute sale) and that the suit was filed within the 30-year limitation period for redemption. The Supreme Court affirmed, holding that the document constituted a mortgage by conditional sale under the Transfer of Property Act. The Court also equitably ordered the mortgagee to refund the consideration paid by the subsequent purchaser, and directed both the mortgagee and subsequent purchaser to execute a joint reconveyance to the mortgagor."
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