created against the petitioners by the respondents are quashed. The matter shall stand remanded to the competent authority to pass an appropriate order afresh, after giving an opportunity of hearing to the petitioners in accordance with law. The amount already deposited by the petitioners against the demands created, pursuant to the interim order passed by this Court or otherwise, shall be subject to final outcome of the inquiry to be conducted by the competent authority. If the petitioners are held liable for the loss, if any, caused to the Panchayati Raj Institution, the amount already deposited by them, shall be adjusted against the demand created, if any. Needless to say that if the petitioners are exonerated, the amount, if any, deposited by them or where the demand created against them is found to be less than the amount already deposited by them, the excess amount, shall be refunded to them. No order as to costs.”