1. Petitioner challenges the Constitutional validity of the Goa, Daman and Diu Public Monies (Recovery of Dues) Act, 1986, (hereinafter called "the Act"), particularly S.3 thereof. The S.3 of the said Act reads as follows : -
"3. Recovery of dues as arrears of land revenue. -
(1) Where any person is a party: -
(a) to any agreement relating to a loan, advance or grant given to him or relating to credit in respect of, or relating to hire purchase of goods sold to him by the State Government, the Corporation or as the case may be; the Government Company by way of financial assistance; or
(b) to any agreement relating to a loan, advance or grant given to him relating to credit in respect of, or relating to hire purchase of goods sold to him by a Bank or Government Company, as the case may be under Government sponsored scheme; or
(c) to any agreement relating to a guarantee given by the State Government or the Corporation in respect of a loan raised by an industrial concern; or
(d) to any agreement providing that any money payable thereunder to the State Government or the Corporation shall be recoverable as arrears of land revenue under the provisions of the Goa, Daman and Diu Land Revenue