Judgment

Bharucha, J.-The relevant facts need to be set out to appreciate what is involved in these apepals from the judgment and order of a Division Bench of the High Court at Calcutta.

2. In June, 1985 a winding petition was filed against the first re­spondent company, now in liquidation (“the said company”). On 30th September, 1986 a mortgage suit (Title Suit No. 143 of 1986) was filed by the Punjab National Bank and the Bank of Baroda against the said company for recovery of the sum of Rs. 1,94,24,886.37 before the Subordinate Judge, Burdwan. On the same day a hypothecation suit (Suit No. 736 of 1986) was filed by the United Bank of India, the Punjab National Bank and American Express against the said company for recov­ery of the sums of Rs. 20,46,010.31 and 17,87,796.49 in the Calcutta High Court. On the same day, a hypothecation suit (Suit No. 737 of 1986) was filed by the Allahabad Bank against the said company for recovery of the sums of Rs. 29,18,360.65 and 11,64,370.00 in the Calcutta High Court. Again on the same day, the Punjab National Bank and American Express filed a hypothecation suit (Suit No. 738 of 1986) against the said company for the recovery of the sums of R