JUDGMENT :

J.B.PARDIWALA, J.

1. By this Application under Article 226 of the Constitution of India, the petitioner, a nationalized bank, seeks to challenge a Circular dated 30th April 2011 passed by the respondent no.3, the Superintendent of Stamps, Gandhinagar, and the order dated 21st November 2011 passed by the Collector of Stamps, Mehsana, by which the Collector ordered recovery of the deficit stamp duty from the petitioner bank to the tune of Rs.7,46,620/-and a penalty of Rs.5,000/-in exercise of powers under Section 39, Clause (1), Sub-clause (b) of the Gujarat Stamp Act, 1958.

2. The facts giving rise to the filing of the present Application may be summarized as under:

2.1 The petitioner is a nationalized bank. A company named M/s.Dairyden Limited had availed of financial facilities from the petitioner bank to the tune of Rs.11.55 Crore some time in the year 2003. At the time of availing of the financial facilities M/s.Dairyden Limited created a mortgage in favour of the petitioner bank by deposit of title deeds in respect of the land bearing N.A. Plot No.18-25 situated in