What will happen when an electrical equipment run 70 Hz frequency rather than its specified 50 Hz frequency?

if u mean motor then it will run with high rpm than is rated rpm and also it will overheat. 

Once an Electrical Equipment is specified to run in Hz, if it runs at Hz, results Over-fluxing, further over-heating,if it runs for longer lime, Electrical Equipment will burn.

Depends on the type of the equipment. If its just a resistive load like a water heater, then it doesn't matter but if the equipment uses the fact that the frequency isHz in order to operate like for example an AC Motor, then the equipment won't function properly.

By "electrical equipment" I assume you mean a motor . 

The motor will simply run at higher RPM when frequency is higher. 

the frequency is very good i say70hz uses very quality for the equipment .its strong  resist  heat