"Nothing new should be introduced in a pending litigation", is a well-known concept of property law. Critically evaluate this concept.

Section 52 of the Transfer of Property Act, 1882 incorporates the 'doctrine of Lis pendens'. It states that during the pendency of a suit in a Court of Law, property which is subject to a litigation cannot be transferred. When we say that property cannot be transferred what we mean in this context is that property may be transferred but this transfer is subject to the rights that are created by a Court's decree. In order to constitute a 'Lis pendens', the following elements must be present: There must be a suit or proceeding in a Court of competent jurisdiction. The suit or proceeding must not be collusive. The litigation must be one in which right to immoveable property is directly and specifically in question. There must be transfer of or otherwise dealing with the property in dispute by any party to the litigation. Such transfer must effect the rights of the other party that may ultimately accrue under the terms of the decree or order.