The Punjab Settlement of Agricultural Indebtedness Act, 2016.
punjab · 2016
The scanned source for this Act is imperfect — headings or section boundaries may be off. Verify against the official source.
- S. 1(1) This Act may be called the Pur yab Settlement of Agricultural Short title and Indebtedness Act, 2016
- S. 2Section 2 defines key terms used in the Punjab Settlement of Agricultural Indebtedness Act, 2016, including agriculture, agriculturist, and agricultural labourer.
- S. 3Notwithstanding anything contained in any other law for the time
- S. 4The interest payable on the debt shall be calculated at such rate as may be notified by the Government
- S. 5Section 5 establishes a District Agri Debt Forum to settle agricultural loan disputes between debtors and creditors.
- S. 6Section 6 establishes a tribunal to settle agricultural debts in Punjab, appointing a retired High Court judge as chairman and two experienced members.
- S. 7(EXT Y 4, 2016 PUNJAB GOVT
- S. 8Section 8 ensures decisions by the Forum or Tribunal remain valid despite member vacancies or procedural errors.
- S. 9Section 9 allows debtors or creditors to apply to a local forum to settle agricultural debts.
- S. 10Section 10 outlines the required details for applications to the Debt Settlement Tribunal under the Punjab Settlement of Agricultural Indebtedness Act, 2016.
- S. 11Section 11 allows the forum to schedule hearings and make interim orders, including pausing debt recovery, during its decision process.
- S. 12Section 12 mandates the Forum to notify creditors to submit debt statements, deeming debts discharged if not submitted, and allowing ex-parte settlement if creditors fail to appear.
- S. 13Section 13 requires creditors to provide detailed debt statements and supporting documents to the Forum for verification.
- S. 14Section 14 of the Punjab Settlement of Agricultural Indebtedness Act, 2016, empowers the Forum to adjudicate on disputed debts, determine original amounts, and decide applications within three months.
- S. 15Section 15 empowers the Forum and Tribunal to address excessive interest charges, set aside agreements, and revise security arrangements in agricultural debt cases.
- S. 17Section 17 allows the same parties to file successive applications for the same cause of action after the initial application has been resolved.
- S. 18Section 18 makes the Forum's decision on loans and debts final and unchallengeable in civil courts.
- S. 19Nocivil court shall entertain:- Bar of civil suits
- S. 20Section 20 allows for review of orders by the Forum and appeals to the High Court within 60 days if unsatisfied.
- S. 25Notwithstanding anything contained in any other law for the time Overriding effect
- S. 26Section 26 empowers the government to make rules for implementing the Act, subject to publication and legislative review.
- S. 27The section allows the government to issue directives to the Forum or Tribunal to expedite debt case resolutions.
- S. 28Section 28 allows the Tribunal to refer difficulties to the Government for final resolution, but not after three years from the Act's commencement.
- S. 29(/) The Punjab Re saving