( 1 ) BEREFT of unnecessary details, facts which are necessary for the decision of the present writ petition are that respondent No. 1 Bank of India (hereinafter referred to as the Bank) filed Civil Suit No. 6-A/95 in the Court of District Judge, Jabalpur, for recovery of an amount of Rs. 35,05,522/ -. After the constitution of the Debt Recovery Tribunal, suit filed by the respondent Bank was transferred to the former as provided under Section 31 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993. By order dated 17-5-1999 the Debt Recovery Tribunal allowed the application filed by the Bank and held that the Bank is entitled to recover its dues from the petitioner along with interest. Aggrieved by the same, one of the petitioners namely petitioner No. 2 Sanjiv Kumar Jain preferred appeal before the Debts Recovery Appellate Tribunal, impleading other petitioners as respondents in the appeal. Appeal preferred by petitioner No. 2 was registered as Appeal No. 54/99. Before the Debts Recovery Tribunal he filed application for waiver of the deposit as required under Section 21 of the Recovery of Debts Due to Banks and Financial Institutions Act, 199