JUDGMENT

S. PANDA, J. — This writ application has been filed by the petitioners challenging the order dated 13.7.2009 passed by the Debts Recovery Appellate Tribunal, Kolkota in Appeal No.11 of 2009 dismissing the appeal.

2. The opposite party-Bank filed O.A. No.187 of 2008 before the Debts Recovery Tribunal, Cuttack Bench, Orissa for recovery of loan amount advanced to the petitioner No.1-Company. In the said proceeding, the present petitioners filed Misc. Application Nos.566 and 567 of 2008 raising the plea of lack of jurisdiction of the Debts Recovery Tribunal, Cuttack to adjudi¬cate the claims in O.A. No.187 of 2008 in view of an arbitration clause in Clause-35 of the Loan Agreement to refer the claims for arbitration as per Section-8(1) of the Arbitration & Conciliation Act, 1996. The Debts Recovery Tribunal, Cuttack without consid¬ering the matter in its proper perspective, by its order dated 20.1.2009 rejected the applications holding that it had jurisdic¬tion to proceed with O.A. No.187 of 2008 and did not refer the matter for arbitration. Challenging the said order, the present petitioner No.1-Company filed Appeal No.11 of 2009 before the learned Debts Recovery Appellate