https://www.taxtmi.com/caselaws?id=199922 A transaction over shares was treated as a mortgage of movable property, not a sale, because the instrument and parties' conduct gave the transferees possession, voting rights and transfer authority while preserving the transferor's right of redemption on repayment within a stipulated period. The presence of part-payment rights and default-sale terms also showed a security arrangement rather than outright transfer. On limitation, the creditor's right to sue arose only after expiry of the contractual repayment period, so time did not run from the advance alone. The recovery suit was therefore within limitation, and the appeal failed. en-us Thu, 09 Oct 1975 00:00:00 +0530 Thu, 15 Mar 2018 11:19:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=199922 A transaction over shares was treated as a mortgage of movable property, not a sale, because the instrument and parties' conduct gave the transferees possession, voting rights and transfer authority while preserving the transferor's right of redemption on repayment within a stipulated period. The presence of part-payment rights and default-sale terms also showed a security arrangement rather than outright transfer. On limitation, the creditor's right to sue arose only after expiry of the contractual repayment period, so time did not run from the advance alone. The recovery suit was therefore within limitation, and the appeal failed. Case-Laws Indian Laws Thu, 09 Oct 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=199922