Nandkishore Lalbhai Mehta vs New Era Fabrics P.Ltd.& Ors

The Supreme Court examined the validity of an agreement for sale under the Urban Land (Ceiling and Regulation) Act, 1976, specifically Sections 22 and 27, and held that the agreement was contingent upon obtaining necessary permissions for conversion and possession. The Court found that the High Court erred in setting aside the decree for specific performance, emphasizing that time was not of the essence in this case due to the nature of the permissions required. Consequently, the Supreme Court restored the decree for specific performance in favor of the appellant, allowing the appeal.