V. RAMASWAMI J. :- This is an appeal preferred by the Joint Receivers of Micro Tools Ltd. The Industrial Finance Corporation of India, the first respondent herein filed O.P. 200 of 1977 on the file of this Court under Sec.30 of the Industrial Finance Corporation Act, 1948 praying for sale of the properties of M/s Micro Tools Ltd., described in the mortgage deed dated 2nd May 1967, and the deed of further charge created thereunder and for the appointment of a receiver in respect of the said properties. They have also prayed for a direction to the Receiver to take possession of the properties forthwith. By an order dated 26th July 1977, this court appointed two advocates, Messrs. G. Gopalaswami and A. Sivaji, as Joint Receivers and directed them to take possession of the factory, pursuant to this order, the Joint Receivers took possession of the factory, made a detailed inventory of the machineries and other articles and filed a first report. Thereafter the Joint Receivers were visiting the factory and taking such other action as is necessary to keep the machinery and other articles intact including supervision of the watch and ward staff. Various other proceedings also appe