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RBI/2018-19/96
DBR.Leg.No.BC.15/09.08.020/2018-19
December
27, 2018
All Scheduled Commercial Banks
(Including RRBs),
Small Finance Banks, Local Area Banks,
All Co-operative Banks,
All NBFCs and All India Financial Institutions
Dear Sir/ Madam
Filing of Security Interest
relating to Immovable (other than equitable mortgage), Movable and
Intangible Assets in CERSAI
Please refer to circulars DBOD.Leg.No.BC.86/09.08.011/2010-11 dated
April 21, 2011, RPCD.CO.RRB.BC.No.72/03.05.33/2010-11
dated May 19, 2011, DNBS.(PD).
CC.No.24/SCRC/26.03.001/2010-2011 dated May 25, 2011 and RPCD.CO.RCB.BC. No.73/07.38.03/2010-11 dated May 26,
2011 advising banks/financial institutions(FIs) to register the
transactions relating to securitization and reconstruction of financial
assets and those relating to mortgage by deposit of title deeds with
CERSAI.
2. The Government of India has
subsequently issued a Gazette Notification dated January 22, 2016 for
filing of the following types of security interest on the CERSAI portal:
a.
Particulars
of creation, modification or satisfaction of security interest in immovable
property by mortgage other than mortgage by deposit of title deeds.
b.
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.
c.
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.
d.
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.
3. CERSAI had started
registration of the data in respect of paragraphs 2 (a) to (c) above, for
the security interests created on or after January 22, 2016, w.e.f. May 25,
2016 for Scheduled Commercial Banks and w.e.f. July 1, 2016 for all other
entities registered with them. Further, the registration of data in respect
of paragraph 2(d) above has commenced since June 8, 2017 for all banks and
FIs registered with CERSAI. Meanwhile, the banks/ FIs have also started registering
the security interests created before January 22, 2016 (subsisting
records). However, it is observed that the extent of registration on the
CERSAI portal is very low, both for current and subsisting records.
4. Banks/FIs are therefore
advised to complete filing the charges pertaining to subsisting
transactions by March 31, 2019. Banks/FIs are also advised to file the
current charges relating to all transactions with CERSAI on an ongoing
basis.
Yours faithfully
(Saurav Sinha)
Chief General Manager-in-Charge
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