ORDER : – Since pleadings are complete and learned counsel for the parties are ready to argue the matter finally, therefore, it is finally heard.

2. By the instant petition filed under Article 226 of the Constitution of India, the petitioner is questioning the legality, validity and propriety of the order dated 18-5-2021 (Annexure P/1) passed by the respondent No. 1 whereby the petitioner has been directed to deposit an amount of Rs. 46,61,667/- as deficit stamp duty and equal amount of Rs. 46,61,667/- being the penalty and as such, total amount of Rs. 93,23,334/- was directed to be deposited by the petitioner within a period of 30 days from the date of passing of the impugned order.

3. The factual matrix of the case relevant for considering the questions raised are as follows : –

3.1. On the basis of a complaint made by one Mukesh Kumar Jain that the agreement executed between the petitioner and the respondent No. 2 on 18-3-2011 (Annexure P/2) was not duly stamped and suffers from deficit stamp duty, the respondent No. 1 passed the impugned ex parte order dated 18-5-2021 (Annexure P/1) giving reference of section 40 of the Indian Stamp Act, 1899 (hereinafter referred to as the ‘Ac