JUDGMENT :

HARJIT SINGH BEDI, J.

1. We have heard learned counsel for the appellant which is the Reserve Bank of India in this case.

2. The appellant is aggrieved by the order dated 20th of December, 2002 whereby a direction has been issued by the learned Single Judge in an application for bail under Section 439 of the Code of Criminal Procedure made by an accused that depositors who had made deposits of less than Rs. 10,000/- should have their deposits released as and when funds were received by the respondent No. 3-Cooperative bank.

3. In this case, an application for bail was made by some of the accused in Cr. No. 121/2002 of Naranpura Police Station in respect of an offence alleged to have been committed by respondent No. 3, the Ex-Chairman of the Bank, respondent No. 4. Bail was granted by the Magistrate vide order dated 22nd February, 2002. This order was challenged by the depositors before the High Court. The High Court, however, did not cancel the bail granted to respondent No. 3 but made a consequential order on 20.12.2002. This order is reproduced below:-

“At this stage, learned counsel Shri Prajapati appearing for the depositors rightly made a grievance that so far poor depos