( 1 ) NEARLY sixty thousand depositors, most of them senior citizens, have waited endlessly for the repayment of the deposits made by them with kirloskar Investments and Finance Limited, a Non-Banking Financial institution. Demands for repayment of the deposits having failed to evoke any response from the Company, over one thousand applications were moved before the Company Law Board seeking its intervention in terms of Section 45-QA of the Reserve Bank of India Act, 1934. The said provision inter alia empowers the Company Law Board to direct repayment of any deposit or part thereof in accordance with the terms and conditions of such deposit if it is satisfied that it is necessary so to do to safeguard the interest of the Company, the depositors or the public in general. Upon consideration of the applications received by the Board, it has in terms of an order dated 21st of March, 2000, issued directions to the Company for repayment of the deposits in accordance with the guidelines and the scheme formulated by it. Aggrieved by the said directions, united Western Bank Limited, a secured creditor of the Company, has filed M. F. A. No. 1530 of 2000 while the Com