( 1 ) IN this appeal an order dated 16th November, 1990, which was passed dismissing a pro interesse suo application, has been challenged.

( 2 ) THE material facts of the case are as under: a suit being Suit No. 406 of 1997 was filed by the Canara Bank (hereinafter referred to as the said 'bank') against one Anamika Industries and its partners namely (1) Shri Rajkamal Prabhas and (2) Shri Prem Sehgal inter alia, on the ground that the respondents were unable to pay the dues of the Bank. The appellants were not parties to the said suit.

( 3 ) IN the said suit the Bank filed an application for appointment of receiver and injunction. On the said application, the learned trial Court appointed Joint Receiver on 8. 5. 1987 over the hypothecated stocks of the respondent No. 2 and an order of injunction was also passed restraining the respondents from dealing with and/or disposing of the hypothecated stocks.

( 4 ) THE sale of hypothecated stock could fetch Rs. 75,000/- and the same was confirmed by the Hon'ble High Court by its order dated 13. 2. 1989 and by the said order, the learned single Judge directed the sale proceeds to be given to the Bank after deducting the