Leach, C.J.

1. The question in this appeal is whether the liquidators of the Travancore National and Quilon Bank Ltd., now in liquidation under a compulsory winding up order made by this Court on 7th September 1933, are entitled to certain security deposited in the Court of Small Causes, Madras, or whether the Official Assignee as representing the estate of an insolvent named M. Elayaperumal Naicker is entitled to it. In Small Cause Suit No. 5185 of 1936 the bank sued one Dr. A. R. Krishnaswami Ayyar and another to recover a sum of Rs. 1728. On 22nd July 1936 the suit was decreed ex parte. Defendant 1 then moved the Court to set aside the decree and on 4th August 1936 it was set aside on terms. Defendant 1 was to deposit in Court in cash a sum of Rs. 750 or furnish security for this sum to the satisfaction of the Registrar of the Court. Security was furnished by M. Elayaperumal Naicker, who deposited in Court five shares of the Reserve Bank of India and together with defendant 1 executed a bond in favour of the Court. The condition of the bond is stated in these words: "Now the condition of this bond is such that if the suit is decreed as against defendant 1 and if he pays t