Judgment

KAPUR, J. : This is an appeal against the judgment and decree of the High Court of Judicature at Calcutta. The appellant was the defendant in the suit out of which this appeal has arisen and respondent No. 1 was the plaintiff, and the second respondent was a proforma defendant. The facts of this case are these:

2. On February 4, 1941, the respondent sold the property in dispute to the appellant for a sum of Rs.10,000. On February 10, 1941, there was an agreement for reconveyance within a period upto February 10, 1943, for a sum of Rs. 10,001. The relevant clause of this agreement was the third clause which was as follows:-

"Clause 3-The purchase shall be completed by the purchasers within two years, i.e., to say on or before the 10th day of February, 1943, time being the essence of the contract. If the purchasers shall on or before the 10th day of February, 1943, pay to the Vendor a sum of Rs.10,001 the vendor shall at the cost of the purchasers execute such conveyance as may be necessary for conveying and transferring its right, title and interest in the said property free from encumbrances, if any created by it".

3. On November 26, 1942, the solicitor for respondent No. 1 wr