KANSHI RAM vs LACHHMAN(DEAD) THRO LRS

The Supreme Court held that the High Court erred in dismissing the suit as barred by limitation, emphasizing that the Himachal Pradesh Debt Reduction Act, 1976 provides a fresh cause of action for debtors to recover mortgaged property. The Court affirmed the findings of the trial and first appellate courts that the suit was filed within the prescribed time limits under Sections 4 and 5 of the Act. The judgment clarified the applicability of the Act in relation to mortgage redemption and the rights of debtors, ultimately allowing the appeal and reinstating the lower court's decree.