( 1 ) COMPANY application no. 49 of 1977 is filed by the state bank of mysore having its head office on kempegowda raod, Bangalore (hereinafter referred to as the 'bank' ). The application is presumably under section 446 (2) (b) of the Companies Act, 1956 (hereinafter referred to as the act ). It is necessary to mention here that the bank has filed earlier, company application no. 142 of 1976 seeking therein an order of this court restraining the 1st respondent-official liquidator therein from making payment of income tax in respect of M/s. Mysore chemicals and fertilisers, a public limited company incorporated under the act and which was by an order dated 14-12-1973 ordered to be wound up by this court in company petition no. 15 of 1972 filed by the state trading corporation of India, new Delhi, a creditor, inasmuch as the bank was a secured creditor and was entitled to preferential payment even before the tax dues if any were settled. While that petition was pending, c. a. no. 49 of 1977 was filed by the bank in the circumstances hereafter to be set out.

( 2 ) IN the latter application the bank has prayed: (1) for a declaration that the official liquidato