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New CERSAI Rules notified; All kind of Mortgages to be registered with CERSAI

Central Government has notified new CERSAI Rules on 22nd January 2016.

All Mortgages need to be registered

According to old Rules, only the secured creditors are required to file particulars of only equitable mortgages with CERSAI. But as the new amendment has come into forceall kind of Mortgages needs to be registered with CERSAI. Newly inserted Rule 2A reads ‘“(2A). Particulars of creation, modification or satisfaction of security interest in immovable property by mortgage other than mortgage by deposit of title deeds shall be filed in Form I or Form II, as the case may be, and shall be authenticated by a person specified in the Form for such purpose by use of a valid digital signature”

Other mandatory registrations

The Rules also says that charge on Hypothecation of Plant & Machinery, Book Debts receivables, Charge on Intangible Property are required to be registered with CERSAI, which were not required earlier as per the old Rules.The Fee are also drastically reduced.

Central Registry of Securitisation Asset Reconstruction and Security Interest of India is a company licensed under section 25 of the companies act, 1956 and is registered by the Registrar of companies, New Delhi.

The company is a Govt company with a shareholding of 51% by the Central Govt and selected public sector banks and national housing bank are also the shareholders of the company.The object of the company is to maintain and operate a Registration system for the purpose of registration of transactions of securitization, asset reconstruction of financial assets and creation of security interest over property.

Read the Full text of the rules here.

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  • VIJAYA KUMAR says:

    Some many co-operative Bank not comply central registry. They are not made endorsement in the centre. If the bank and financial institutions are not comply mandatory requirement of CERSAI. Whether they entitled to issues notice under section 13(2), 13(3) and section 14 of the SARFAESI Act. Whether the borrower can file application under Section 20A, 20B and 25 of the SARFAESI Act before DRT, DRAT, and High Courts.

  • SANJAY JHA says:

    there is something i want to ask ….what if the Debt has not been registered under CERSAI and the Bank files Recovery proceedings U/S 19 Of the DRT ?

  • mahesh karwa says:

    what is a process to registered mortgage loan to cersai
    is there needed any login id or what pl give details

  • A.K.Srivastava says:

    I have taken a housing loan of rs. 8 lac from a bank. Bank has called me to deposit stamp for rs. 4000/- to mark cersai on my property. I have submitted Stamp for rs. 4000/- but signed over stamps due to the reason that another person could’nt claim that these stamps belongs to him. now the bank has told me that stamp should be unsigned. As you have signed over stamps these become invalid. you will have to submit fresh stamps unsigned. Please let me know what is the factual position and why ?.

  • BALACHANDAR says:

    Recently i have transferred my housing loan to another bank. They told their need to raise new cersai against my property , which they were not able to do, due to my property was already registered through previous bank. Request your help what procedure i need follow.

  • Dhan Pal Singh says:

    To open the cersai page for entry of
    Mortgage properties in cersai not
    Opend many times have been tried.
    After entering the password in the 3rd line shows the digital No.—–
    Then submitt & clear Not open the
    Page further. Please guides us.

  • Pankaj Yadav says:

    I have also want search property who registered in CERSAI , if there is any option to view the property who registered in it. please PROVIDE THE INFORMATION TO ME

  • ARUN KUMAR BISWAS says:

    i want to make ID PASSWORD

  • Ankit says:

    We bought a property which was already mortgaged with a bank. We checked with sub registrar and CERrSAI and found that there was no loan on the property. So we bought the property. Bank had not intimate on CERSAI. What action we can take against bank for his mistake.

    • Gurmukh Singh says:

      i purchased a property before that checked with registrar and municipality and cerise no mention of any loan. all of a sudden without any notice to me one day i received a letter from a company that your property is being auctioned and he can help me. i rushed in panic to the DRT i was stunt to find their proceeding without any notice to me they have advertised auction. Wht can I do ? pl advise. time is less indeed.

    • Him sagar upadhyaya says:

      It is known that mortgageged to be registered within 30 day,but in left over cases of months and together what action to be taken now for its registration present to cover the interest.It there is any provision to registration for such left over cases &if yes then how,please let me know.

    • manu says:

      We bought a property which was already mortgaged with a bank. We checked with sub registrar and CERrSAI and found that there was no loan on the property. So we bought the property. Bank had not intimate on CERSAI. What action we can take against bank for his mistake.

      Read more at: http://www.livelaw.in/new-cersai-rules-notified-all-kind-of-mortgages-to-be-registered-with-cersai/?replytocom=127199#respond

    • Rajesh says:

      Nothing. I can file a suit against any register indeed.

  • Anil Gaindhar says:

    Whether any outsider can check the CERSAI details . How far the alert system functioning ???

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