Comment on the following: Only remedy for Depositors in case of default in repayment of Deposit by the company is to file a suit.

Section 73(4) of the Companies Act, 2013 states that, where a company fails to repay the deposit or part thereof or any interest thereon, the depositor concerned may apply to the Tribunal for an order directing the company to pay the sum due or for any loss or damage incurred by him as a result of such non-payment and for such other orders as the Tribunal may deem fit. In addition to filing a suit before NCLT for repayment of deposit with accumulated interest, hundred or more depositors or depositors holding at least five percent of the total outstanding deposit can initiate a class action suit under section 245 of the Act before the NCLT.