JUDGMENT

1. This appeal arises out of a suit brought by the first respondent, the Gorakhpur Bank, Limited, for a declaration that it has a charge on the amount of a fixed deposit standing to the credit of the second respondent, Majid Husain Khan, in the Kayastha Trading and Banking Corporation, Limited. The facts are that in May 1910 Majid Husain Khan deposited Rs. 8,700 with the Kayastha Trading and Banking Corporation for three years to bear interest at the rate of Rs. 7 per cent per annum : . A receipt in the ordinary form was issued to him containing in the margin the words "not transferable". Majid Husain Khan in 1911 borrowed Rs. 4,650 from the Gorakhpur Bank, Limited, and on that occasion wrote to the Manager of that Bank a letter which is set out in the judgment of the lower Appellate Court. It purports to authorise the Bank in case the loan was not re-paid to recover the amount from the sum for the time being standing in Majid Husain Khan's name in fixed deposit account with the Kayastha Trading and Banking Corporation, Limited. .The letter sets out the date and number of the fixed deposit receipt and it is found, as a fact, that Majid Husain Khan made over the receipt to t