COLLECTOR OF CUSTOMS & ORS vs PEDNKAR AND COMPANY (PRIVATE) LIMITED (IN LIQUIDATION) &ANR

The Supreme Court held that under Section 20 of the Sale of Goods Act, property in goods does not pass until they are ascertained and specific. The Court found that the property in the goods did not pass to the second respondent at the time of the agreement to sell, as the goods were not in a deliverable state and the agreement pertained only to part of the consignment. The High Court's ruling was upheld, confirming that the goods were not covered by the import license of the first respondent, and thus the appeal was dismissed.