T.L. MUDDUKRISHNA vs LALITHA RAMACHANDRA RAO

The Supreme Court held that under Article 54 of the Limitation Act, 1963, the limitation period for seeking specific performance of a contract begins from the date fixed for performance, which in this case was May 28, 1989. The Court ruled that the trial court and High Court were correct in rejecting the appellants' application for amendment of the plaint to seek specific performance, as the appellants had failed to act within the limitation period. The Court emphasized that time is of the essence in contracts where a specific date for performance is stipulated, affirming the lower courts' decisions.