( 1 ) BY this application under Rule 9 of the Company Court Rules, 1959, Syndicate Bank, who claims to be a secured creditor of Prashant Engineering Company (P) Ltd. , in liquidation, and has secured a simple money decree of Rs. 2,11,897-20 together with costs and future interest against the Company, prays that the Official Liquidator be directed to pay to the bank sale proceeds of Rs, 85,500. 00 in respect of a diesel generating set towards part satisfaction of the decree and to hand over the other hypothecated machines belonging to the Company that may be held by the Official Liquidator to the Bank on the allegations that all the machines installed in the factory of the Company, including the generating set aforesaid, were hypothecated by the Company in favour of the Bank as security for the money advanced by the Bank to the Company, which formed subject-matter of the Suit and the decree. It is claimed that the aforesaid generating set was disposed of by the Official Liquidator without notice to the Bank.

( 2 ) THE claim of the Bank is resisted by the Official Liquidator, who has denied any knowledge of the hypothecation. It is submitted that no diesel generating