NTRAYANAIAH Vs. NARAYANA REDDY
HIGH COURT OF ANDHRA PRADESH
D.NARAYANA REDDY (DIED)
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(1.) Polepalli Narayanaiah - first defendant in the suit, having lost
in the two courts below, has come in Second Appeal.
(2.) The sole but important point that arises is whether Ex.B, 1
which has been executed by the plaintiff-respondent herein, is a mortgage
by conditional sale, or an out and out sale with a condition to repurchase.
Both the courts below held that it is mortgage by conditional sale. So,
the Second Appeal.
(3.) On 21-11-1964 the plaintiff executed Ex. B.1, which, he wants to
style as mortgage by conditional sale, in favour of the first defendant for
the debt due. So, we will straight away read the document itself, as the
entire argument centers round the same. The document is in Telugu.
However, the relevant translated portions of Ex. B 1 may now be read:
"This is the conditional sale which has been executed for
the reason that I had executed a promissory note in favour of
your wife Lakshmikantamma on 23-4-1960 and the amount
due on the promissory note as on today being Rs. 2.000/- and
on your agreeing to have received the amount as though said to
have been paid by me in respect of the said pronote debt due
and also a sum of Rs. 500/- I have borrowed in cash from you
today towards my agricultural expenses and having therefore,
received in all a sum of Rs. 2,500/- I am executing this document
by way of a conditional sale making over the schedule
mentioned property in your favour and I have given possession
of the said property to you. From today onwards myself or
my heirs have no claim whatsoever in respect of the said property.
From this day within five years, whenever I repay the
aforesaid sum of Rs. 2,500/- in cash, then you must recon-
vey the schedule mentioned property under a registered deed.
The requisite stamp duty and registration expenses will be borne
by me. In default of the aforesaid conditions, after expiry of
five years, you will enjoy the property absolutely: neither
myself nor my heirs will have any right whatsoever against the
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