(1.) This is an appeal from a decree of the High Court of Judicature at Madras, dated February 24, 1921, modifying a decree of the Subordinate Judge of Nellore, dated October 5, 1918, and made in the original suit No. 1 of 1917.
(2.) Issues raised by the appellant necessitated in the Courts below, and particularly in the Court of the Subordinate Judge, whose judgment their lordships would at once observe is conspicuous for its ability, care and completeness, a prolonged investigation and examination of conflicting evidence. Concurrent findings against the appellant on every issue of fact raised by him have, however, greatly narrowed the ambit of the dispute as presented to the Board, and no more than two questions-difficult and important questions it is true- have survived for discussion before their lordships.
(3.) Of these one only has so far been argued. But it raises the fundamental dispute between the parties, which may be described as an issue as to the true nature of the transaction of August 4, 1908, between the appellant and the late Rajah of Kalahasti (now represented by the respondents his assignees) as a result of which the properties in suit passed to the appellant The transaction is evidenced by two documents referred to throughout the proceedings as Exhibits X and U. Did it effect, as contended for by the respondents, merely a mortgage by conditional sale of the properties in suit, or was it, as contended by the appellant, an absolute sale of these properties to himself, with an agreement on his part to reconvey on the strict performance by the Rajah of certain defined conditions ?