(2)On receipt of a reference under sub-section (4) of section 51 of the Act or where the Collector proposed to take action suo-moto under sub-section (5) of section 51 of the Act, the Collector shall issue a notice-(a)to every person by whom; and(b)to every person in whose favour, the instrument has been executed;asking him to produce the original instrument and to show cause within 21 days from the service of the notice as to why he should not proceed to determine the correct market value of the property and realise the deficient duty together with penalty under section 51 of the Act, where the original instrument is not produced within the above period of 21 days, the Collector may proceed to determine the correct market value on the copy of the instrument.
