Alfred Henry Lionel Leach, C.J.

1. The appellants appeal against an order refusing to recognise them as secured creditors of the Lakshmi Forest Company Limited, which is now under liquidation under an order for compulsory winding up. On the 3rd September, 1932 by a registered deed the appellants conveyed to the Company certain lands in the village of Shedimane, South Kanara District and assigned the benefit of a mortgage decree, which they had obtained in the Court of the Subordinate Judge of South Kanara. The consideration was Rs. 80,000 payable in instalments. The deed purported to charge both the immovable property and the mortgage-decree for the due payment of the balance of the consideration. It was also provided that the vendors should remit a sum of Rs. 10,000 if the Company should pay the balance falling due before the 1st April, 1933 With interest from the 30th June, 1932. The right to rank as secured creditors was challenged by the liquidator, and the appellants took out a Judges Summons for a declaration that under the general law and also under the provisions of the deed they were secured creditors in respect of-the monies remaining due to them under the deed. Th