When anyone applies for a Loan to the Bank or FI, Credit Rating for Loan Approvals by Banks and Financial Institutions is verified by the Bank's and FI's .Similarly verification of Immoveable properties is also investigated/verified/checked by the Bank's or FI's from CERSAI. Even while purchasing any property, the purchaser must enquire about the property from CERSAI records to SAFEGAURD against any fraudlent sale without revealing that the property is charged/mortgaged with any Bank/FI's.
As per CERSAI rules any person can also search and inspect the records maintained by the Registry on payment of fees prescribed under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (Central Registry) Rules, 2011.
As per CERSAI rules any person can also search and inspect the records maintained by the Registry on payment of fees prescribed under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (Central Registry) Rules, 2011.
CERSAI: Central Registry of Securitisation Asset Reconstruction and Security Interest of India is a company licensed under section 25 of the Companies Act, 1956 and registered by the Registrar of Companies, New Delhi. The Company is a Government Company with a shareholding of 51% by the Central Government and select Public Sector Banks and the National Housing Bank are also 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 securitisation, asset reconstruction of financial assets and creation of security interest over property, as contemplated under Chapter IV of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. (SARFAESI Act).
The Registration would be applicable to transactions of security interest over property created to secure loans and advances from the banks and financial institutions as defined under the SARFAESI Act. The Company is providing the platform for filing registrations of transactions of securitisation, asset reconstruction and security interest by the banks and financial institutions.
Any person can also search and inspect the records maintained by the Registry on payment of fees prescribed under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (Central Registry) Rules, 2011.
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