Venkataramana Rao, J.

1. This is an application by a subscriber to a chit conducted by the Travancore National Subsidiary Co. Ltd., for payment of a sum of Rs. 820 standing to the credit of the applicant in the accounts of the Travancore National and Quilon Bank Ltd., in preference to the ordinary creditors of the bank. She is a subscriber to a B class chit. According to Rule 1(a) of the rules governing the chit she had to subscribe at the rate of Rs. 40 each month for 25 successive months as the chit amount is Rs. 1000. She subscribed to the chit on 17th January 1938 and on the same day she deposited with the Mylapore Branch of the Travancore National and Quilon Bank a sum of Rs. 990. Her case is that the said amount of Rs. 990 was deposited for the specific purpose of paying the subscriptions-to the chit every month as and when they fell due and the Bank undertook to pay the-same as and when they fell due and therefore as the amount was received by the Bank for the said specific purpose, it was trust money in their hands. As the Subsidiary Company has now failed and the chit-has come to a close, she claims to be entitled to be paid the balance of Rs. 820 remaining, after paym