N.R.AYYANGAR, J.

(1) THE principal point raised for consideration in this appeal by special leave relates to the correctness and legality of an order by a division bench of Calcutta High court refusing to confirm a sale by the liquidators of the assets of a company which is being wound up. The company in question-the Luxmi Spinning & Weaving Mills Ltd.- a company incorporated under the Indian Companies Act-was carrying on business at Calcutta. On a petition of the 1st respondent-Shankarlal Poddar-made to the High court of Calcutta, this company was ordered to be wound up compulsorily by order dated 22/08/1955. But before this order was passed, certain matters had transpired to which it is necessary to advert. The appellants claiming that they had advanced loans to the company under two registered deeds of mortgage and alleging that there had been default on the party of the company in performing its obligations as to payment of interest etc. under the said deeds instituted a mortgage suit in the High court of Calcutta for the usual reliefs under 0. 34, Civil Procedure Code. Pending the disposal of the suit they moved the court for the appointment of a receiver, and the secon