JUDGMENT :

1. This writ petition has been filed by Kirti Kapoor and four others, challenging the validity of notification dated 6.9.2018 issued by the Central Government, Ministry of Finance (Department of Financial Services), New Delhi. Prayer has been made to quash and set aside the aforesaid notification and pass any other order as may be deemed fit and proper in the facts of the case.

2. The Central Government has issued the aforesaid notification invoking its power under Sub-section (4) of Section 1 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (for short, 'the Act of 1993'), thereby raising the threshold pecuniary limit of ten lakh rupees to twenty lakh rupees for filing application for recovery of debts in the Debts Recovery Tribunal by Banks and financial institutions. The notification has provided that the provisions of the Act of 1993 shall not be attracted where the amount of debt due to any Bank is less than twenty lakh rupees.

3. Ms. Anita Aggarwal, learned Counsel for petitioners, submitted that as per the provisions of Section 1(4) of the Act of 1993, the provisions of the said Act are not applicable where the amount of debt due to any Bank