Ashwani Kumar Mishra, J.—This petition is directed against an order passed by Debts Recovery Appellate Tribunal, dated 25.5.2016, upon an application filed by the petitioner for waiver, from pre-deposit of amount under second proviso to Section 18(1) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as “SARFAESI Act”). The Tribunal has determined an amount of Rs. 19,82,768.98/- as debt due and payable. By invoking jurisdiction under third proviso, 25% of debt due has been directed to be deposited, after adjusting a sum of Rs. 2 lacs already deposited earlier with the Tribunal, so that appeal be entertained on merits.

2. Facts, in brief, are that cash credit was extended to M/s. Thakur Brand and Company for an amount of Rs. 20,00,000/-. To secure this credit, petitioner offered his residential house as a equitable mortgage. It is not in dispute that credit remained over drawn and declared as non-performing asset. A notice under Section 13 (2) of the Act was thus issued on 9.2.2010 for an amount of Rs. 21,52,382/-, with future interest and incidental charges. Admittedly, this demand was not met