RAJAMANNAR C.J.

This is an appeal against the order of KRISHNASWAMI NAYUDU J. dismissing an application filed by the appellant under Section 120 of the Indian Companies Act in the following circumstances

On 26th June, 1950, the Malayalee Bank Ltd. executed and registered a deed of sub-mortgage of some of the securities held by the bank in favour of the appellant to secure a sum of Rs. 10, 000, advanced by the appellant to the bank. The loan was repayable within six months. On 4th July, 1950, the managing director of the bank forwarded to the Registrar of Joint Stock Companies particulars of the mortgage as prescribed in a form provided for the purpose, but he did not send either the instrument of mortgage or a copy thereof verified in the prescribed manner. The Registrar acknowledged receipt of the particulars and called upon the managing director to file the instrument or a copy of the same. The bank replied to the Registrar on 13th July, 1950, that they had not received a copy of the mortgage deed and that as soon as it was received they would furnish the Registrar with it. It appears that a copy of the mortgage deed was obtained by the managing director on 24th July, 1