CERSAI Portal - Verification of Registration of Transactions with CERSAI Portal in Bank Branch Audit
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Registration of Transactions with CERSAI:-
In terms of circular DBOD.Leg.No.BC.86/09.08.011/2010-11 dated April 21, 2011 on ‘Setting up of Central Electronic Registry under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002’, as amended from time to time,
banks are required to register, on an ongoing basis, the transactions relating to securitization and reconstruction of financial assets on the CERSAI portal.
Banks also need to file, on an ongoing basis, the following types of security interest on the CERSAI portal to secure any loans or advances:
In terms of circular DBOD.Leg.No.BC.86/09.08.011/2010-11 dated April 21, 2011 on ‘Setting up of Central Electronic Registry under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002’, as amended from time to time,
banks are required to register, on an ongoing basis, the transactions relating to securitization and reconstruction of financial assets on the CERSAI portal.
Banks also need to file, on an ongoing basis, the following types of security interest on the CERSAI portal to secure any loans or advances:
a.particulars of creation, modification, or satisfaction of security interest in mortgage by deposit of title deeds;
b.particulars of creation, modification, or satisfaction of security interest in mortgage other than mortgage by deposit of title deeds;
c.particulars of creation, modification, or satisfaction of security interest in hypothecation of plant and machinery, stocks, debts including book debts or receivables, whether existing or future.
d.particulars of creation, modification, or satisfaction of security interest in intangible assets, being know how, patent, copyright, trademark, licence, franchise or any other business or commercial right of similar nature.
e.particulars of creation, modification, or satisfaction of security interest in any ‘under construction’ residential or commercial or a part thereof by an agreement or instrument other than mortgage.
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