JUDGMENT - KAMDAR S.U., J.: - In these two writ petitions, the petitioners are challenging a common order passed by the D.R.A.T. Mumbai in Misc. Application No. 414 of 2003 in Appeal No. 150 of 2003 and Misc. Application No. 415 of 2003 in Appeal No. 174 of 2003. By the said common order dated 12th January, 2004 the D.R.A.T. Mumbai has directed the petitioners to deposit 40% of the decretal amount as and by way of pre-deposit under section 21 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993. It is this order dated 12th January, 2004 which is challenged by filing the present two writ petitions.

2. A short point of law which has been raised by the learned Counsel appearing for the petitioners is that the provisions of section 21 of the Act in so far as it provides for pre-deposit is ultra vires, arbitrary and the same is liable to be struck down. In support of the aforesaid contention, learned Counsel for the petitioners has relied upon the judgment of the Hon'ble Supreme Court of India in the case of (Mardia Chemicals Ltd. and others v. Union of India)1, reported in 2004(4) Bom.C.R. (S.C.)530. It has been contended by relying on the aforesaid judgment that t

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