LALIT KUMAR JAIN vs JAIPUR TRADERS CORPN. P.LTD

The Supreme Court upheld the High Court's decision to cancel the sale deed dated 22.2.1971 under Section 31 of the Specific Relief Act, establishing that a sale deed can be deemed void if the conditions precedent for its validity are not fulfilled. The Court found that the defendants failed to pay the balance sale consideration, leading to the rescission of the contract. Consequently, the Court ordered the defendants to return the sale deed and granted the plaintiff compensation for the value of properties wrongfully demolished, amounting to Rs.95,000/- after adjustments.