Bhashyam Aiyangar, J.

1. In this case two persons, Kasi Viswanatha Mudali and Balasundaram, were adjudicated insolvents on the 22nd July, 1929, on a creditors petition presented on the 2nd March, 1929. Some time before the presentation of that petition, that is on the 23rd August, 1928, the first insolvent, Kasi Viswanatha Mudali, had transferred all his property to himself and two of his numerous creditors, namely K. Rama Rao and B. Kottayya, jointly, on trust for the benefit of his creditors. The deed of trust recites that the arrangement evidenced by it was come to and settled by the six creditors specified in list A thereof after looking into the accounts of the transferor and "a discussion amongst themselves and with the transferor of the financial position of the transferor" and that the transferor "intimated unto the said creditors in list A that the other creditors (of whom there were more than 60 as specified in list C) would not disturb the arrangement now come to." After the adjudication, the Official Assignee applied by a notice of motion, dated the 23rd August, 1929, to declare that the said deed of trust was void as against him under Section 55 of the Presidenc