VANCHALABAI RAGHUNATH ITHAPE(D)BY LR. vs SHANKARRAO BABURAO BHILARE(D)BY LRS.&ORS

The Supreme Court held that the transaction between the parties, as per the deed executed on 12.7.1967, was a mortgage and not an outright sale, despite the defendant's claim. The Court emphasized that the stipulation for reconveyance after five years indicated a mortgage arrangement under Section 58 of the Transfer of Property Act, 1882. The appeal was allowed, reversing the High Court's decision and directing the reconveyance of the property to the plaintiff's legal heirs upon repayment of the consideration amount.