( 1 ) THIS is a mortgage suit under Order 34 Rule 4 of the Code of Civil Procedure. The suit was originally instituted against Khwaja Shamshuddin. On or about 19-9-1957 on his application Khwaja Shamshuddin was adjudicated insolvent by an order of this Court. By an order dated 21-1-1958 the Official Assignee of Calcutta was brought on the record as the defendant.

( 2 ) THE plaintiffs case is that the defendant carried on business in the sale, purchase and export of goat skins and hides under the name and style of East Asiatic Trading Company. The defendant had a current overdraft account with the plaintiff. In the said account from time to time the plaintiff used to lend and advance various sums of monies to the defendant and the defendant from time to time used to draw on such monies and repay various sums from time to time.

( 3 ) IN paragraph 3 of the plaint it is stated that the overdraft account was secured by (a) pledge and/or hypothecation of all stocks of goat skins and hides of the defendant in his godown at 2, Chingrihatta Lane, Calcutta (b) mortgage of premises 11/a Kyd Street, Calcutta, and (c) equitable mortgage of premises No. 2 Chingrihatta Lane, Calc