In the figure, assume that the forward voltage drops of the $PN$ diode $D_{1}$ and Schottky diode $D_{2}$ are $0.7\: V$ and $0.3\: V,$ respectively. If ON denotes conducting state of the diode and OFF denotes non-conducting state of the diode, then in the circuit,
- both $D_{1}$ and $D_{2}$ are ON
- $D_{1}$ is ON and $D_{2}$ is OFF
- both $D_{1}$ and $D_{2}$ are OFF
- $D_{1}$ is OFF and $D_{2}$ is ON