K. Kalpana Saraswathi v. P. S. S. Somasundram Chettiar
Specific performance – extension of time for deposit
Case brief
What is this about?
Specific performance; extension of time for deposit of balance price; Section 28 Specific Relief Act; he who seeks equity must do equity; assignment of mortgagee's rights versus discharge of mortgage; conditional decree; undertaking to surrender mortgage decree; O.S. No. 154 of 1968; South Indian Bank, Coimbatore; equitable mortgage; Madras High Court C.M.P. Nos. 3449 and 3563 of 1976; Civil Appeal Nos. 1993-1994 of 1977; appeals by special leave; V. R. Krishna Iyer, J.; R. S. Pathak, J.; decided 29-11-1979; K. K. Saraswathi v. P. S. S. Chettiar, [1980] 2 S.C.R. 293.
What did the court decide?
Conditional decree in favour of the appellant: she must (i) deposit within six months the entire sum of Rs. 3,45,000 with interest due upto date at 11 per cent, and (ii) give an undertaking to give up all her rights under the mortgage decree passed in her favour in O.S. No. 154 of 1968, except to the extent of the amount actually paid to the South Indian Bank for taking the assignment. If both conditions are fulfilled, the appeal stands allowed and a final decree for specific performance is passed; on non-compliance with either condition the appeal stands dismissed with costs. The High Court's decree for rescission of the contract and delivery of possession with mesne profits is thereby displaced in substance, while its view that the advantage of the mortgage assignment must be surrendered is accepted.