Contract and Specific Relief Act, 1963 Ss

Ss. 28 and 10 - Rescission of contract for sale/lease of immovable property after decree of specific performance, or, grant of extension of time - Matters to be considered - Held, contract between parties is not extinguished when court passes decree for specific performance - Such a decree is preliminary in nature and suit is deemed to be pending even after the decree - Court which granted decree does not become functus officio - It remains vested with power to declare rescission of contract or to extend time - On facts held, executing court rightly did not allow extension of time, as sought by appellant vendee, for depositing balance of purchase price, and on the other hand, allowed respondent's application for rescission of contract under S. 28,  (2009) 8 SCC 766-