The appellant in this appeal is one Loomchand Sait, who was the Managing Director of the Peerdan Joharmal Bank, Ltd., in liquidation. He has preferred this appeal against the order of Krishnaswami Nayudu, J., who held that the appellant had acted fraudulently and had brought himself within the purview of section 282-A of the Indian Companies Act. The learned Judge found all the charges framed against him proved and sentenced him to pay a fine of Rs. 1,000 and directed him to pay Rs. 42,527-12-9, deliver the jewels particulars of which were given in the schedule to the charge excepting some three items referred to in the judgment and also to pay a sum of Rs.87,000 plus Rs. 199-12-0 being the value of the securities wilfully misapplied by the said appellant on or before the 12th September, 1951. In default, he ordered that the appellant should undergo imprisonment for two years. The appellant was given time till the 12th September, 1951 to which date the matter stood adjourned. On the 14th September, 1951, the appellant having failed to comply with the order, dated the 29th August, 1951, the matter came up before the learned Judge on the 14th September, 1951.