ORDER :

1. Heard learned advocate Mr. Vishwas Shah for learned advocate Ms. Bhavna Shah for the petitioners.

2. By this petition under Articles 226 and 227 of the Constitution of India, the petitioner has challenged the order dated 08.12.2022 passed by the Debt Recovery Appellate Tribunal, Mumbai in IA No. 257 of 2022 in Appeal on Diary No. 552 of 2022 with regard to direction to the petitioner to deposit the amount of Rs. 1.70 crores as a condition for maintainability of the appeal as per the second proviso to section 18 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act,2002 [‘SARFAESI Act’ for short].

3. The facts, necessary for adjudication of this petition, are narrated here-in-below without going into the past history of the litigation between the parties.

4. The petitioner challenging the order dated 19.02.2018 passed by the Debt Recovery Tribunal, Ahmedabad, has preferred the appeal under section 18 of the SARFAESI Act being Appeal on Diary No. 552 of 2022.

5. The petitioner also preferred an application being IA No. 257 of 2022 in Appeal on Diary No. 552 of 2022 for waiver of the pre-deposit as provided under second proviso