low amount of stamp paper in agreement

Execution of agreement with  insufficient stamp is not make the agreement null and void,still the conditions can be enforced. But the registering authority or the Court (in case of admission of the agreement ) can instruct the party to remit the deficient stamp duty.

I also invite suggestions from other learned members

Regards,

Jagan

Mr.Vinay

Procedure in case of difference amount of fee:- When any difference arises between the officer whose duty it is to see that any fee is paid under this chapter and any suitor or attorney, as to the necessity of paying a fee or the amount thereof, uestion shall when the difference arises in any of the said high courts, be referred to the taxing-officer, whose decision thereon shall be final, except when the uestion is, in his opinion, one of general importance, in which case he shall refer it to the final decision of the chief justice shall appoint either generally or specially in this behalf.

When any such difference arises in any of the said courts of small causes, the question shall be referred to the clerk of the court, whose decision thereon shall be final, except when the question is, in his opinion, on of general importance in which cases he shall refer it to the final decision of the first Judge of such court.

merely because of insufficient stamp paper the Agreement will not become null and void, further if the same is uregistered one and when it is presented before the court, the court may insist for payment of actual stamp duty with penalty

What J. Govind has said is right that the notice from the Stamp Collector shall be issued to pay the balance Stamp Duty and till such time the document shall be held under Section 32(c) of Bombay Stamp Act, If not paid within stipulated time then penalty shall be levied

Yes you can make the agreement valid by payment of deficit stamp duty by compounding the same.