( 1 ) AN agreement executed on 5/02/1979 between M/s. Vishal Malleables Ltd. , a company registered under the Companies Act, 1956, and having its registered office at G. I. D. C. Industrial Estate, Ankleshwar, District broach (First Part), Gujarat State Financial Corporation (G. S. F. C.- Second Part), gujarat Industrial Investment Corporation Ltd. (G. I. I. C.- Third Part) and the bank of Baroda (Fourth Part), was registered with the Sub-Registrar of ankleshwar on 8/02/1979 at Sr. No. 82. The said instrument was executed by affixing a Stamp Duty of Rs. 10. 00 as if it was an agreement as provided under Art. 6 of the Bombay Stamp Act, 1958 ("the Stamp Act" for short ). At the time of audit of the Sub-Registrars Office, the Deputy accountant General referred to the said instrument and arrived at the conclusion that the instrument was not evidencing the deposit of title deeds or pari passu agreement between the financial institutions and the company but it contained recitals such as : (i) right to sell the property in case of default in payments; (ii) continued security of the property for the amount due; (iii) right to appoint a receiver at any time; and (iv) exercising any