Today Progressive Lawyers Forum in association with State Bank of India, Andhra Bank, Central Bank of India, Bank of Baroda & Nabard organized a conference on “Resolving Stress in Banking System & the Challenges Ahead” at CII, Sector 31, Chandigarh.The first session was presided by Mr. Ravi Kumar from Canara Bank, Mr. P. Seetharaiah, Zonal Manager from Andhra Bank, Sh. B.L. Meena from PNB, Sh. Atul V. Sood, Advocate and Sh. Rajeev Arora, General Manager of State Bank of India, Sh. Sanjay Tandon, Chartered Accountant & Sh. Anandeshwar Gautam, Advocate. The second session was presided was Hon’ble Mr. Justice Rajive Bhalla, Justice Arvind Sangwan, Justice Anil Kshterapal, Sh. Anupam Gupta, Senior Advocate & Sh. Gaurav Goel, President of Progressive Lawyers Forum.
The speakers deliberated on the issues regarding evolution of law & introduction of Insolvency & Bankruptcy by the Govt. Of India. From the perspective of bankers they highlighted the difficulties faced by the bankers in order to recover its stressed assets. They showed their concern regarding the increasing NPA in the recent period but appreciated the endeavour made by the Reserve Bank of India & Government to support the banking system in order to come out of the stress. The session concluded with the vote of thanks for the legal fraternity inn coming forward to resolve the banking issues. Mr. Gaurav Goel & Mr. Anandeshwar Gautam, Advocates raised their concern as why the District Magistrates are failing to pass appropriate period of 30 days under Section 14 of the SARFAESI Act for resolving the debt. Even after passing the orders the same is not executed in true spirit which in turn delays the whole recovery process. The PLF endeavours to continue organizing such seminars & conferences to discuss the issues of utmost importance.