( 1 ) THE petitioners are seeking quashing of the order passed on 21. 8. 1998 by Debt Recovery Tribunal, New Delhi (for short the Tribunal) declining to dismiss or reject the Original Application of respondent No. 2 - Indian Bank (for short the Bank ) for a decree of Rs. 2,43,50,000. 00 (Rupees two crores forty three lakhs an fifty thousand only) against the petitioners and other respondents, instituted under the Recovery of Debts Due to the Banks and Financial Institutions Act, 1993 (for short the Act ).

( 2 ) THE Bank filed an Original Application against the petitioners (respondent No. 1 and 2 the Original Application) and others before the Tribunal for recovery decree of the above amount, inter alia, pleading therein:-

" (I) respondent No. 1 through its partners approached the applicant Bank at its Jamshedpur, Bihar Branch for issuance of drafts on various dates;

(II) that pursuant to the request of respondent Nos. 1 and 2 the applicant Bank at Jamshedpur, Bihar issued the following Bank drafts:- 95drj51. htm and the said drafts were payable at the Service Branch of the applicant Bank at New Delhi,

(III) that similarly respondent no. 2 also requested the applican