Vasanti A. Naik, J.—By this petition, the petitioners impugn the order of the Debts Recovery Appellate Tribunal, dated 19.08.2015, rejecting the application filed by the petitioners seeking waiver of the predeposit in the circumstances of the case. In the alternative, the petitioners challenge the provisions of Section 18 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as ‘the Securitisation Act’ for the sake of brevity) pertaining to the pre-deposit for entertainment of an appeal under Section 18 as ultravires, illegal, unconstitutional, arbitrary and against the principles of natural justice. The petitioners seek a direction to the Debts Recovery Appellate Tribunal to entertain and decide the appeal filed by the petitioners without insisting for the pre-deposit.

2. The petitioners had secured a loan from the respondent bank and since, there was a default in payment of the same, the respondentbank initiated action against the petitioners under the provisions of the Securitisation Act. The petitioners had mortgaged nine properties of which two were located at Kerala and seven at Nagpur. The