CERSAI FULL FORM

CERSAI FULL FORM


CERSAI full form is Central Registry of Securitisation Asset Reconstruction and Security Interest of India.

CERSAI founded on 11 March 2011.

CERSAI having a licence under section 8 of the Companies Act, 2013.

It’s having Head Office at New Delhi.

It’s a government company.

CERSAI website is https://www.cersai.org.in

CERSAI was introduced to identify fraudulent activity in lending transactions against the against equitable mortgages.

Its main aim is avoid multiple lending to same property from different financial institution.

Major shareholding in CRESAI are public sector  banks, Central Government and National Housing Banks.

Central Government holds 51% of shares in CERSAI.

Main objective of CRESAI is maintaining a centralised registry of equitable mortgages.

Immovable property details must and should enter in the CERSAI database within 30 days.

CERSAI database online search is available for general public.

CERSAI act came into in to existence under the SARFAESI ACT, 2002.
CERSAI will be compiling the data received from member of financial institution about the property and its encumbrance.

Unless the security interest is registered with CERSAI, Financial Institutions cannot invoke the provisions of the SARFAESI Act for recovery of dues.

CERSAI registration can be done by following steps.
  1. Visit the website- https://www.cersai.org.in
  2. Need to fill online registration from under the “Entity Registration” section in website.
  3. Need to have register user details.
  4. Need to have digital signature.
  5. Need to update all the required information in CRESAI website and submit.
CERSAI creation is deemed as public notice.
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