BISHWANATH PRASAD SINGH vs RAJENDRA PRASAD

The Supreme Court addressed the issue of whether a transaction labeled as a sale deed could be recharacterized as a usufructuary mortgage under the Bihar Money Lenders Act, 1974. The Court held that the transaction in question, executed on 24.6.1977, was indeed a sale deed and not a mortgage, affirming the lower courts' decisions. The Court emphasized that the respondents failed to seek specific performance within the statutory period, thus upholding the dismissal of their suit.