N.L.Untwalia, J.

1. These two miscellaneous appeals have been placed before me for hearing and disposal under orders of Hon ble the Chief Justice passed in accordance with Rule 5 of Chapter II of Part I of the Patna High Court Rules. On a point of law there was a difference of opinion between Shambhu Prasad Singh, J., and Shiveshwar Prasad Sinha, J. It is not necessary for me to state all the facts in detail as they find mention in the judgment of his Lordship Mr. Justice Shambhu Prasad Singh. I shall mention a few of them.

2. The Industrial Finance Corporation of India, respondent No. 1 in Miscellaneous Appeal 240 of 1971, and the Bihar State Financial Corporation, respondent No. 1 in Miscellaneous Appeal 241 of 1971, advanced large sums of money to Messrs. Thakur Paper Mills Ltd. whose Managing Agents are Messrs, Ram Bahadur Thakur and Company. Both of them are appellants in the two appeals. The Industrial Finance Corporation is a body constituted under the Industrial Finance Corporation Act, 1948 (Central Act 15 of 1948), and granted loan to the appellants in accordance with the provision of the said Act. The Bihar State Financial Corporation functions as a corporate bod