PALANISWAMY J.

In this application, an interesting but a bit difficult point of law under the Companies Act, 1956 (hereinafter referred to as "the Act"), arises for consideration, though the amount of money value involved in this controversy is negligible. The question is whether a person, having a statutory lien on a property of a company, is in the position of a secured creditor and stands outside the winding-up proceedings of the company. The relevant facts, which are not in controversy, may be briefly stated. By order dated 25th October, 1968, in C.P. No. 89 of 1967, this court directed the winding-up of Sri Jagannathan and Brothers, Automobile Engineers and Motor Works Private Ltd., Erode, at the instance of a creditor, who had filed that petition under section 433(e) of the Act. In May, 1966, the company had entrusted two machineries belonging to it to Messrs. T.V. Sundaram Iyengar & Sons Private Ltd., Madurai, the applicant herein, for carrying out certain repairs. The applicant-company carried out repairs by supplying certain spare parts. The repairs were completed in July, 1967. The applicant-company issued debit notes for a sum of Rs. 489.04. This amount carrie