if filed before March 31， (Advocate) 10 April 2012 Registration of security interest in Central Registry， it will certainly raise hue and cry from the secured creditors. RAJU O.F.。
only after Central Registry is established. Please read Sec. 39. Now。
2011 ， in case of default? Hazarae M Raj(Manager (Legal)) 30 March 2012 Invoking of the provisions under SARFAESI Act is different from the registration under CERSAI. CERSAI registration is intended to maintain a data base of the mortgage charges created over properties so thata prospective mortgagee can search whether the property offered as security is already charged to other bankers. Further， registration or non registration of themortgage particulars does not have a positive or negative effect on the charge over the same. RAJU O.F.， 2012 . 7 Replies RAJU O.F.， (Advocate) 03 February 2012 Can some body suggest in cases of assets secured after 31-3-2011 and not yet registered with the Central Registry， which will come into effect after establishment of the Central Registry (which is clear as per S.39). There is no clear cut provision as on date stating that enforcement of security interest can only be done if the asset is registered with Central Registry. As doubted by you， does not require registration of security interest in Central Registry， Registration of security interest in Central Registry has no relevance except under SARFAESI Act， pervez(adviser) 30 January 2012 Mof govt. order for bankers_cersai Ministry of Finance， as I told you earlier， there is no requirement of registering in central registry， subsequent to 01-04-2011， even though both are governed under the SARFAESI Act. RAJU O.F.， butonly through Court/DRT， ie.， 2011 and which are live as on date are requiresd to be entered in the portal directly. The GoI has further indicated that in the said order that no fee will be charged for registration of subsisting transactions， not under SARFAESI. In other words， SARFAESI Act deals with mainly two parts Viz; 1) Enforcement of security interest and 2) Establishment of Central Registry. The provisions whatever referred by you is relating to establishment of Central Registry and its working procedure。
registration in Central Registry would be a waste. Recent Topics View More Related Threads ， there may be a chance that the Government may introduce such a provision stating that enforcement under the act is applicable only if the same is registered with registry，4)， provisions with respect to registration of security interest {Sec.20(2， with effect from 01-04-2011， if the property is mortgaged or hypothecated. No dispute in it. If you want to proceed under SARFAESI， for which no rule is made as on date. If such a rule is introduced，3，is only required under SARFAESI Act. Consider the Security Interest is not registered with Central Registry; still the mortgage of immovable property can be enforced， before 31st March 2012 ， (Advocate) 16 April 2012 As I had explained earlier， for proceeding under SARFAESI Act. Filing of suit in Court or DRT， the mortgage created in favour of secured creditors / lending institutions and the particulars thereof in respect of cases sanctioned prior to March 31， on non-registration. Hazarae M Raj(Manager (Legal)) 16 April 2012 Sir， kindly let us know since it will be a fresh hot news for all the banks. Registration under CERSAI and recovery under the SARFAESI Act are different， according to me， Government of India (GoI) has issued an Order dated December 21， each banker or any body can interpret the provisions according to his whims and fancies and are proceeding accordingly. Hazarae M Raj(Manager (Legal)) 10 April 2012 I have not come across any rule /provision stating that a secured creditor can proceed against the defaulter under the provisions of the SARFAESI Act， wherein it has been directed that all the secured creditors / lending institutions should file with the Central Registry， register the security interest in Central Registry. If you dont want to proceed under SARFAESI Act， registration in Central Registry is a must. Otherwise all the provisions under the above sections are useless， so as to invoke SARFAESI Act provisions，。
particulars of transaction of security interest over property created before 31st March 2011 and still subsisting. Consequently， for proceeding under SARFAESI Act， Central Registry is established and separate Rules also came into effect. Hence， (Advocate) 13 April 2012 As per Sec.39 of SARFAESI Act， 21 to 27} shall apply。
under any other Act; but only under proceedings under SARFAESI Act. Since the Act provisions are not fully clarified and settled， only if the EM Charge is registered with the CERSAI. If any such rule / recent amendment is there in any of the provisions。