1. The civil first miscellaneous appeal under Section 32 (9) of the State Financial Corporation Act of 1951, hereinafter referred to as "The Act", is against the judgment and order of the District Judge, Srinagar, dated 8-12-1975 whereby he made the order of attachment absolute and has directed that the attached property be sold by auction.

2. It appears that the respondent herein made an application under Section 31 of the Act before the District Judge, for an order for the recovery of Rs. 48,735,07 with interest accruing thereupon up to the date of realization of the suit amount by sale of properties and house mortgaged by the appellant to the petitioner as security for the loan of Rs.40,000/- on the basis of registered mortgage deed and also for an ad-interim injuction restraining the appellant from transferring and removing the plant and the machinery from their premises without the written permission of the Board of Directors of the Jammu and Kashmir State Financial Corporation, The respondent, herein, i.e. the Jammu and Kashmir State Financial Corporation averred in the petition that by a deed of mortgage dated 23-9-1970 executed by the appellant in favour of