Judgment

GAJENDRAGADKAR, C.J.I. : Two questions of law have been raised before us by Dr. Seyid Muhammad on behalf of K. Joseph Augusthi, the appellant in Civil Appeal No. 254/1963. Both of them are related to S. 45G of the Banking Companies Act, 1949 (No. X of 1949) (hereinafter called the Act). The first question raised has reference to the validity of the said section and the second to its true scope and effect. Dr. Seyid Muhammad contends that the answers given by the Kerala High Court to both these questions are erroneous. According to him, S. 45G is unconstitutional inasmuch as it contravenes the fundamental rights guaranteed to the citizens of this country by Art. 20 (3) of the Constitution. He also argues that in making an order for the public examination of the appellant, the High Court has misconstrued the scope and effect of the relevant provisions of the said section.

2. The appellant Joseph Augusthi was the Managing Director of the Palai Central Bank Limited from 26-1-1927 to 8-8-1960; K. George Thomas and George Joseph who are the appellants in the two other appeals Nos. 255 and 256 of 1963 respectively, were the Directors of the said Bank; the first of them was the Dire