JUDGMENT :

Harsha Devani, J.

1. By this petition under articles 226 and 227 of the Constitution of India, the petitioners have challenged the order dated 2.5.2019 passed by the Debts Recovery Appellate Tribunal, Mumbai in Miscellaneous Appeal (L) No. 3 of 2019, and seek a direction to the Debts Recovery Tribunal-1, Ahmedabad to frame, consider and decide as preliminary issues, the issues raised by the petitioners in their pleadings of Original Application No. 551 of 2018 and Original Application No. 678 of 2018.

2. The facts as averred in the petition are that the respondents financed setting up of a 300 MW (150 MW x 2) Thermal Power Plant at MIDC Dhule, Maharashtra (hereinafter referred to as "the Project") by Shirpur Power Pvt. Ltd. (hereinafter referred to as "the first petitioner/borrower"), the original cost whereof was Rs. 1762.92 crores. The respondents No. 1, 2 and 3, viz., State Bank of India, Bank of Baroda and IDBI Bank, claim to have executed the COR Common Loan Agreement (COR Facility Agreement) dated 8th December, 2012 with the first petitioner for the same. Thereafter, on account of factors beyond the control of the borrower, there was a cost overrun. To meet this cost