ORDER

1. This appeal by grant of special leave is directed against the judgment and decree dated 4-12-1998 passed by a Single Judge of the High Court of Madras in SA No. 192 of 1987, wherein and whereby the High Court, reversing the judgments and decree passed by the courts below, has dismissedthe suit filed by the appellant plaintiff (hereinafter referred to as "the appellant") for specific performance of the agreement dated 24-9-1974 executed between him and Masilamani Gramani since deceased and now represented by Respondents 2 to 9 (hereinafter referred to as "the vendor").

2. The appellant was a mortgagee under deceased Masilamani Gramani. Masilamani Gramani executed an agreement to sell the suit property to the appellant as and when he decides to do so at the market rate prevailing at the time of the sale. In spite of the said agreement, the vendor sold the suit property to his cousin (hereinafter referred to as "the vendee") on 3-1-1979 for a sum of Rs 3000.

3. The appellant on coming to know of the execution of the sale deed in favour of the vendee, on 27-2-1979 issued a notice both to the vendor and the vendee. On 6-4-1979 the appellant filed a suit seeking specific perform