- (1.) Heard Sri A.K.Gupta along with Sri Rajesh Kesharwani, learned counsel for the petitioners and Sri Ashish Nigam holding brief of Sri Sandeep Arora, learned counsel for the respondent-bank.
(2.) By means of the present writ petition the petitioners have prayed for issuing a writ of certiorari quashing the order dated 22.1.2016 passed by the Debt Recovery Appellate Tribunal, Allahabad (in short DRAT) in Appeal No. R-83/2015 (M/s Eastern Export House and another vs. Union of India) by which the Appellate Tribunal has required the petitioners to deposit 50% of the entire amount of loan as determined by the Debt Recovery Tribunal (in short DRT).
(3.) While assailing the impugned order learned counsel for the petitioner submitted that the Appellate Tribunal has erred in not waiving the entire prerequisite statutory amount under section 21 of the Recovery of Debts Due to Bank and Financial Institutions Act, 1993 (in short DRRBFI Act, 1993).;