These are five connected cases filed against appeals filed against the convictions and sentences of the Additional First Class, Magistrate, Vijavawada in C.C. Nos. 178 and 179 of 1949.

The facts are brief; The petitioners before us are the directors of Sri Gopalakrishna Motor Transport Company, Limited and whose affairs were the subject-matter of investigation till recently on the original side of the High Court How this company came into existence was as follows:These directors were originally competing bus owners running a few buses each. The Government of Madras then insisted that groups of 20 buses should be formed into fleets and then only they would be allowed to operate as public transport vehicles. Therefore by reason of this requirement the erstwhile warring competitors were thrown together. It is not too much to say that it was more like a case of a number of wild cats being thrown into a cage and asked to live amicably thereafter. It needed therefore no astrologer to forecast the future of such a company. The company was incorporated under the Indian Companies Act of 1913 as Joint Stock Company limited by shares on 20th December, 1944, having its registered office