( 1 ) IN this application, the applicant Praga Tools Ltd. , a company incorporated under the Companies Act, 1956, prays, inter alia, for an order giving leave to execute the decree dated August 1, 1978, against the monies lying with the official liquidator, who is respondent No. 1, arising from the sale of the assets of Bengal Engineering Co. (P) Ltd. (in liquidation) and for a direction to respondent No. 1 to pay the sum of Rs. 50,000 to the applicant in pro tanto satisfaction of the decretal dues of the applicant.

( 2 ) THE facts relating to the making of the present application may be briefly noted.

( 3 ) ON or about July 18, 1969, the applicant filed a suit against the company in liquidation in the court of the Additional Chief Judge at City Civil Court, Secunderabad, being Original Suit No. 64 of 1969. The suit was decreed on July 7, 1972, for a sum of Rs. 90,343. 37 with interest at the rate of 6% per annum from the date of the suit till the date of realisation and the assessed costs of Rs. 6,838.

( 4 ) AS the decretal dues remained unpaid, the applicant on or about January 3, 1974, presented a winding up application in this court being Company Petition No. 17 of