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6.1. Learned Assistant Government Pleader has thereafter referred page 59 of the compilation i.e. part II of the report of the Audit Officer. It is submitted that as per the remarks made in the said Audit Report, the consideration set forth in the documents was lower than the market value of the properties as per schedule rate (i.e. jantri rate) available with the SR. However, the said document was registered and not referred to the Deputy Collector for determining the true market value of the properties till the time of the audit. It is submitted that when the said objection was raised, the concerned Sub- Registrar referred the matter to the Deputy Collector and thereafter the Deputy Collector has exercised the powers under Section 39 of the Act and therefore the Deputy Collector has not committed any illegality as alleged by the petitioners. At this stage, learned Assistant Government Pleader has referred the provisions contained in Section 39 of the Act read with Section 33, 32A and 37 of the Act and submitted that no error is committed by the respondent No.2 while passing the impugned order and therefore this Court may dismiss the petition.

"[32A. Determination of market value of property which is the subject matter of conveyance, etc.-[(1) Every instrument of conveyance, exchange, gift, certificate of sale, partition, partnership, settlement, power of attorney to sell immovable property when given for consideration, deed of settlement or transfer of lease by way of assignment, presented for registration under provisions of the Registration Act, 1908 (XVI of 1908) shall be accompanied by a true copy thereof; [and the Statement in such form as may be prescribed by Rules] and if an officer registering such instrument under the aforesaid Act or any person referred to in Section 33 before whom such instrument is produced or comes in the performance of his functions, has reason to believe that the consideration set forth therein does not a proximate to the market value of the property which is the subject matter of such instrument or as the case may be the market value of the property which is the subject matter of such instrument, has not been truly set forth therein, he [ shall before] registering the instrument or, as the case may be, performing his functions in respect of such instrument, refer the instrument or true copy thereof to the Collector of such Districts in which either the whole or any part of the property is situated for determining the true market value of such property and the proper duty payable on the instrument under this section.] [Provided that for the purpose of this Sub-section, the consideration set forth in an instrument executed by the State Government, the Central Government, a local authority, Gujarat Housing Board, Gujarat Slum Clearance Board or Gujarat Industrial Development Corporation, shall be deemed to be the true market value of the property which is the subject matter of such instrument.]

24. Thus, from the proviso contained in the aforesaid Section, it is clear that the consideration set forth in an instrument executed by the State Government, the Central Government, a local authority, Gujarat Housing Board, Gujarat Slum Clearance Board or Gujarat Industrial Development Corporation, shall be deemed to be the true market value of the property which is the subject matter of such instrument. Thus, when the petitioners have purchased the properties in question in an open auction held before BIFR and when the petitioners were the highest bidders and the sale was approved by the BIFR in favour of the petitioners in pursuant to which sale deed was executed, the consideration set forth in the instrument in question is required to be considered as the true market value of the properties in question.