This paper examines the status quo of contract farming in Indian Punjab from the farmers‟ perspective. The analysis is based on the field survey of three districts of the state covering 300 contract farmers. It is observed that agribusiness normalization has taken hold of the CF practice and farmers are facing its brunt. Withdrawal of extension services, reneging on prices and procurement are the major issues afflicting CF. Lack of adjudication is making contract farming exploitative in approach and the study recommends vigilant and strong intervention of the government.