Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
Latest Circulars »
Open DEMAT Account in 24 hrs
 Auction of Government of India Dated Securities Jun 19, 2023
 60 LPA Opening Director/ Partner - Corporate tax
 Premature redemption under Sovereign Gold Bond (SGB) Scheme - Redemption Price for premature redemption due on May 30, 2023 (Series I of SGB 2015)
 RBI approves the voluntary amalgamation of Maratha Sahakari Bank Ltd., Mumbai (Maharashtra) with The Cosmos Co-operative Bank Limited, Pune (Maharashtra)
 Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 Padmashri Dr. Vithalrao Vikhe Patil Co-operative Bank Limited, Nashik, Maharashtra Extension of Period
 Master Circular Basel III Capital Regulations
 Report on Currency and Finance (RCF) for the year 2022-23
 Amendment to the Master Direction (MD) on KYC
 Future-Proofing the Indian Financial System (Inaugural Address by Shri Shaktikanta Das, Governor Reserve Bank of India - April 27, 2023 - Delivered at the Global Conference on Financial Resilience organised by the College of Supervisors in Mumbai)
  RBI Working Paper No.05/2023: Reading Consumers Minds - An Analysis of Inflation Expectations
 Annual Closing of Government Accounts Transactions of Central / State Governments Special Measures for the Current Financial Year (2022-23)

RBi-Filing of records of equitable mortgages with the Central Registry
November, 13th 2013

RBI/2013-14/369
DNBS.(PD).CC.No.360 /03.10.001/2013-14

November 12, 2013

All NBFCs

Dear Sirs,

Filing of records of equitable mortgages
with the Central Registry

The Central Government in exercise of the powers conferred under Section 21 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, has notified on 31st March, 2011 the establishment of the Central Registry at New Delhi and entrusted the operations and administration of the Central Registry and the maintenance of the Central Register to a Government Company licensed under Section 25 of the Companies Act, 1956, namely the Central Registry of Securitisation Asset Reconstruction and the Security Interest of India. (CERSAI)

2. Although the institutions notified under the SARFAESI Act have to mandatorily register with CERSAI, the records of the mortgages created in their favour by deposit of title deeds, those not notified under SARFAESI Act are not debarred from filing the records with CERSAI. In the absence of the records of all the equitable mortgages obtained even by non-SARFAESI notified banks / financial institutions (including NBFCs) with the CERSAI, the details of the security interest created in favour of these banks / institutions will not be available on a public domain for search by citizens / other banks / FIs as a result of which the potential fraud / multiple financing against the same property may not be fully prevented.

3. All NBFCs are advised to file and register the records of all equitable mortgages created in their favour on or after 31st March 2011 with the Central Registry and they shall also register the records with the Central Registry as and when equitable mortgages are created in their favour.

4. These instructions are being issued in exercise of powers vested in the Bank under Section 45L of the RBI Act, 1934.

Yours faithfully,

(N.S.Vishwanathan)
Principal Chief General Manager

Home | About Us | Terms and Conditions | Contact Us
Copyright 2023 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting