Amendment status not verified — confirm the current text below against the official source.
Applzcatzon for debt re!tef-A farmer clatmtng any debt rehcf under thts Act shall fi)e an apphcatton before the Commt">Ston m the manner and m the fonn, as may be prescnbed · 24 8 Slttmgs of the Commzsswn.-(1) The Commisston shall hold its ) ... Slttmgs at such places and at such ttmes as may be determmed by tt· Pro\uded that the CommiSSIOn shall hold 1ts s1ttmgs m the respective distnct or dtstncts declared as distress affected areas to constder matters relatmg to the d1stress affected areas (2) The quorum for the s1ttmg of the CommiSSion shall be three ' (3) The Corrumsston may m appropnate cases 1t deems fit, hold smmgs m dtstncts by cons'tltutmg a Bench conststmg of two or more members. Provtded that a member representmg the farmer m the Commtsston shall be mcluded m the Bench so constituted: Provided further that m case of the Bench constituted by the Comm1sston, the quorum for the meetmg of the Bench shall be the total number of members of that Bench or two whtchever ts less 9 Speczal provtswns zn respect of ~ettlement of certazn loans taken _by farmer-( I) Notwtthstandmg anythmg con tamed m thts Act or m any other law or contract or dectee or order of any Court or Tnbunal, a member authonsed by the Co~mtsswn may mltlate negot1atton to,- (a) reschedule short-term loans mto medmm term loans and medtum term loans mto long tenn loans, m respect of the debts ava1led of by a farmer descnbed m clause (b) of sub-sectwn (1) of sectson 5, from commerc1al banks or other scheduled banks, or '>-. (b) prov1de necessary, facthties for one ttme settlement of agnculture loans falhng under the category of non-performmg assets, as per the gUJdehnes 1ssued by the· Reserve Bartk of Indta, or (c) wa1ve penal mterest as per the norms flXed by the Reserve Bank of lndta, wtth the concurrence of the Reserve Bank of Indta and the National Bank for Agnculture and Rural Development (2) Where any settlement of loan IS made under sub-sectton (1 ), the satd farmer shall be bound to repay such loan to the bank concerned, wtthm the penod allowed ,by such bank 10 Re-schedulmg of loan<ii taken by a fat mer from fznancwf znslltutwns - ( 1) Notw1thstandmg anythmg contamed m thts Act or u1 any other law or contract or decree or order of any Court or Tnbunal, the ' ( / • 25 Commtsston may reschedule the recovery of loans avatled by a farmer descnhed m clause (b) of sub-secuon ( 1) of sectton 5 on or before the date of declaration as a distress affected area, dtstress affected crop under section 6 or a dtstrcss affected fanner from any fmanctal mstltutton notified by the Government for thts purpose. (2) Where the rescheduling of the loan ts made under sub-sectlon ( 1 ), the farmer shall be bound to repay such loan wtth interest to the financtal mstttutton concerned wtthm the penod allowed by Commtssion: , Provtded that the Commtsston may, on apphcatton by the fanner, exempt htm, by order, from the repayment of the same for the penod so rescheduled, for the reasons to be recorded: Provtded further that the fanner shall be bound to repay the ,;arne on such later dates, so flxed by the Commtsston. 11 Bar of suzts, applzcatwns and other proceedzngs.-No sutt for recovery of debt shall be mstttutcd, or application for exccutton of a decree in respect of a debt shall be made agamst a fanner descnbed m clause (b) of sub- section ( 1) of sectton 5 and no appeal, revas10n petttton or applicatton for revtew agatnst any decree or order m any such sutt or appltcat10n shall be presented of'"'~ made agamst such a farmer m any Ctvtl Court, or Tnbunnl or other authonty, 1 and such sutts, apphcattons, appeals and petitiOns mstttutcd or made agamst such a farmer before the date of declaration of a dtstnct or pan thereof as a dtstress affected area and pendmg on such date shall stand stayed for such penod as the Commtsston may recommend in that behalf.