MISRA J.

O. S. A. Nos. 186 and 196 of 1984 have common issues and O. S. A. Nos. 197 of 1984 and 13 of 1985 arise out of consequential or further reliefs that have been denied or granted. Since they have a common feature, they have been ordered to be placed together for hearing. Accordingly, they have been heard together and are being disposed of by a common judgment. The main facts, however, are that the official liquidator representing the company in liquidation took out summons under sections 460(4), 531, 531A and 536 read with section 634 of the Companies Act, 1956 (hereinafter referred to as "the Act") to declare that the respondent (appellant in O.S.A. Nos. 196 and 197 of 1984 and 13 of 1985) is not entitled to any rights or benefits accruing to her under the deed of hypothecation dated July 26, 1973, registered with the Registrar of Companies for a sum of Rs. 1, 40, 000 with interest thereon.

The date of the impugned document is July 26, 1973. A creditor of the company came forward with an application in C.A. No. 128 of 1974, for winding up of the company under section 392(2) of the Act. That application was presented on March 19, 1974. The order of winding up was m