Venkataramana Rao, J.

1. This is an application by the Secretary of the All India Spinners Association, Tamil Nad Branch, for payment to him of a sum of Rs. 9200 in preference to the ordinary creditors of the Travancore National and Quilon Bank. The claim for the said amount is put under two heads : (1) a sum of Rs. 5000 being the amount paid into the Tiruppur Branch of the Bank for getting a draft, No. 1506 of 1938, in exchange drawn by the Bank on its Bajapalayam Branch in favour of one Sankararaja; and (2) Rs. 4200 being the proceeds of three cheques delivered to the Tiruppur Branch of the Bank for collection, namely (a) cheque for Rs. 3000 bearing No. N. G. 7448I dated 15th June 1938 drawn on the Canara Industrial Banking Syndicate Ltd., Payyanur; (b) cheque for Rs. 500 bearing No. M.S. 621239 dated 17th June 1938 drawn on the Indo-Commercial Bank Ltd., Vijayapuram, Trivandrum; and (c) a cheque for Rs. 700 bearing No. 112315 dated 17th June 1938, drawn on the Indo-Commercial Bank Ltd., Chidambaram. The receipt of the cash of Rs. 5000 and the three cheques is admitted by the Official Liquidators. The claim in respect of Rs. 5000 is made on the basis that the amount was speci