ORDER

2. The TNPID Act was enacted to protect the interests of depositors who fall prey to fraudulent financial establishments. However, the practical working of the Act had been vitiated by administrative delay, lack of coordination, lack of proactive monitoring or awareness programs and absence of timelines, all of which had the effect of defeating the very object of the legislation. These failures had reduced the efficacy of the Act, leaving thousands of poor and middle-class depositors in prolonged distress. The Court had, therefore, made extensive observations, including criticism of the failure of the authorities in taking timely steps under Sections 3 and 4 of the Act, particularly in issuing Government Orde