The Punjab Settlement of Agricultural Indebtedness Act, 2016
The Punjab Settlement of Agricultural Indebtedness Act, 2016
This Act establishes a legal framework to address the financial difficulties faced by farmers and agricultural workers in Punjab. It applies to individuals who earn their living through farming, including landowners, tenants, and laborers, as well as the financial institutions that lend to them. The law creates a District Agricultural Debt Settlement Forum to mediate and resolve disputes regarding agricultural loans. By providing a structured process for settling these debts, the legislation aims to prevent farmers from falling into severe financial distress and ensures that creditors are repaid in a fair and orderly manner, ultimately supporting the stability of the agricultural sector.
- 1. Short title and commencement
- 2. Definitions
- 3. Deemed discharge
- 4. Calculation of interest
- 5. Establishment of District Agriculture Debt Settlement Forum
- 6. Establishment of Debt Settlement Tribunal
- 7. Transaction of business of the Forum and Tribunal
- 8. Acts of the Forum or the Tribunal not to be invalid by certain defects
- 9. Application for determination and settlement of debt
- 10. Particulars of application
- 11. Procedure on receipt of application
- 12. Notice calling upon the creditor to submit statement.
- 13. Procedure on submission of statement of debt
- 14. Power of the Forum to adjudicate.
- 15. Powers of the Forum and Tribunal to summon, Re-opening of transaction.
- 17. Bar to successive application.
- 18. Decision of the Forum to be final.
- 19. Bar of civil suits.
- 20. Review
- 21. Appeal.
- 23. Bar to New suits and transfer of Pending suits
- 24. Recovery of sums
- 25. Overriding effect
- 26. Power to make rules
- 27. Power of the Government to issue directions
- 28. Power of the Government to remove difficulties
- 29. Repeal and saving
PDF: pending for this language.