JUDGMENT :

1. The present writ petition is filed praying for the following reliefs :-

“A. This Hon’ble Court be pleased to admit and allow the petition filed by the Petitioners.

B. This Hon’ble Court be pleased to quash and set-aside the impugned order dated 27/06/2022 passed by Ld. Debt Recovery Appellate Tribunal in Interlocutory Application No.217/2022 in Misc. Appeal Diary No. 434/2022 and be pleased to hold and declare that the discretionary powers so used by Ld. DRAT, Mumbai while disposing off waiver application being IA no. 217/2022 in Misc. Appeal Diary No. 434/2022 is unsustainable, irrational, not based on sound principles of equity and justice and the same is without consideration of aspects of undue hardship and financial hardships of Petitioners and consequently, be pleased to direct Ld. DRAT, Mumbai to exercised discretionary powers of waiver of pre-deposit to the extent of 25% of the outstanding amount due claimed in Demand Notice dated 07/07/2020 issued u/s. 13(2) of the Act and consequently, be pleased to hold and declare that upon payment of Rs.2Crores by Petitioners as a First Installment be treated as compliance of 25% of amount due claimed in Demand Notice as ful