JUDGMENT

S.K. Mishra, J. - Heard Shri Vivek Kumar Singh, learned counsel for the petitioner, Shri Ashish Joshi, Advocate for respondent no. 2 / Bank and Shri Shankar Agarwal, Advocate holding brief of Shri Sagar Kothari, Advocate for the respondent no. 3.

2. This writ petition is filed under Articles 226 and 227 of the Constitution of India with a prayer to issue a writ of Certiorari quashing the order impugned dated 21.11.2019 (Annexure No. 14 to the writ petition) and order dated 19.03.2021 (Annexure No. 19 to the writ petition) passed by Debt Recovery Appellate Tribunal (hereinafter referred to as "Tribunal" for brevity) and further to issue a writ of Mandamus directing the Tribunal to hear the appeal on merits, in accordance with law, allowing the waiver application of the petitioners, which was filed for hearing the appeal without making statutory deposit, as envisaged in second proviso to sub-Section (1) of Section 18 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as "SARFAESI Act" for brevity).

3. It is not disputed that initially, on 31.10.2014 a first demand notice under Section 13 (2) of th