Kanhaiyaji, J.

1. The writ application under Article 227 of the Constitution and the civil revision application under Sec.115 of the Code of Civil Procedure, both filed by the petitioners, arise put of the same proceeding before the District Judge, Darbhanga, under Sec.30 of the Industrial Finance Corporation Act (XV of 1948), hereinafter called the Act, read with Order 40, Rule 1 and Section 151 of the Code of Civil Procedure, hereinafter called the Code.

2. M/s. Thakur Paper Mills Ltd., respondent-opposite party No. 1, hereinafter referred to as the Company, applied for, and requested the petitioner, the Industrial Finance Corporation, of India, hereinafter referred to as the Corporation, for, lending and advancing a sum of Rs. 20 lakhs, to which the Corporation agreed- The company executed a registered deed of English mortgage in favour of the Corporation on the 28th June, 1962, mortgaging its entire assets in favour of the Corporation, and the Corporation advanced a sum of Rs. 18,76,000.00 in various instalments. The Company failed to make the payments as stipulated in the aforesaid mortgage. The Corporation filed a case under Section 30 of the Act before the District J