1. Respondents 1, 3, 8 and 14 in O.P.No.123/1982 of the District Court, Trichur are the appellants herein.

2. First respondent herein, Kerala Financial Corporation, filed the O.P. before the District Judge under S.31 of the State Financial Corporations Act, 1951 (for short'the Act') claiming reliefs against the respondents in the petition in regard to the recovery of amounts borrowed by those respondents from the Corporation by sale of properties charged. Respondents 2,3 and 8 before the lower court filed objections contending that the petition has not been signed and verified by a competent officer of the Corporation and is not maintainable, that the entire loan amount has not been disbursed and the claim was premature, that the loan was borrowed to erect a freezing plant the work in connection with which was entrusted to M/s. Peyoli Refrigeration Corporation at the instance of the Kerala Financial Corporation and they did not complete the work in time inspite of demand and, therefore, the Financial Corporation is not entitled to recover the amount from them. The learned judge overruled all these contentions and allowed the petition. Hence this appeal.

3. R.1 of Order XX