SUBHASH MALHARI MUNESHWAR . vs ARVIND ANANDRAO KADAM (DEAD) THROUGH LRS. .

The Supreme Court analyzed the nature of the document Exhibit P-33 to determine whether it constituted a mortgage by conditional sale under Section 58(c) of the Transfer of Property Act or a sale with condition to repurchase. The Court held that the recitals in the document and the intention of the parties indicated that it was a sale with condition to repurchase, thereby reversing the First Appellate Court's judgment which had classified it as a mortgage by conditional sale. The High Court's decision was upheld, confirming the nature of the transaction as a sale with a condition for reconveyance.