A. Specific Relief Act, 1963 (47 of 1963), Section 10, 16 -- Limitation Act, 1963 (36 of 1963), Article 54 – Suit for specific performance – Limitation -- Limitation prescribed by Article 54 sets in from the date when the petitioner received the reply refusing performance.

(Para 31)

B. Specific Relief Act, 1963 (47 of 1963), Section 10, 16(c) – Specific performance of agreement – Readiness and willingness – Purchaser paid a sum of Rs.11,30,00 as earnest money and paid Rs.13,00,000 on the same day by cheque and paid another Rs. 5,00,000 by Demand Draft -- If the petitioner was unwilling to perform the contract, he would not have paid nearly 75 percent of the sale consideration -- Petitioner with the payment of the additional sum above the earnest money, has proved his readiness and willingness to perform the contract -- Fit case for to exercise discretion to direct specific performance.

(Para 42)

C. Transfer of Property Act, 1882 (4 of 1882), Section 52 – Lis panders -- Doctrine of lis pendens that Section 52 of the Transfer of Property Act encapsulates, bars the transfer of a suit property during the pendency of litigation -- The only exception to the principle is when it is transferred under the authority of the court and on terms imposed by it -- Where one of the parties to the suit transfers the suit property (or a part of it) to a third-party, the latter is bound by the result of the proceedings even if he did not have notice of the suit or proceeding.

(Para 47)

D. Transfer of Property Act, 1882 (4 of 1882), Section 52 – Object of doctrine of lis pendens -- Purpose of lis pendens is to ensure that the process of the court is not subverted and rendered infructuous --  In the absence of the doctrine of lis pendens, a defendant could defeat the purpose of the suit by alienating the suit property.

(Para 49)

E. Transfer of Property Act, 1882 (4 of 1882), Section 52 – Lis pendens – Review -- Pendency means -- Review proceedings were “instituted” within the period of limitation of thirty days –  Doctrine of lis pendens kicks in at the stage of “institution” and not at the stage when notice is issued by this Court -- Argument of the respondents that the doctrine of lis pendens does not apply because the petition for review was lying in the registry in a defective state cannot be accepted.

(Para 49)