Cersai eventhough developed into Phase Two, do not address some common issues. In this post I am trying to bring into light the problem of similar assets which always pop up as an error. A person hav…
Pitfalls in Phase Two of CERSAI
In the earlier version of CERSAI we will be getting an Asset ID which can be used in future for correction, modification and satisfaction of the loan/property transaction details. Now in Phase Two, w…
Borrower co-owner with thirdparty-CERSAI
In CERSAI provision is made for entering the details of third party who is mortgaging the property. If you select Property owner as 'NO' in Borrower Tab, then you will have to mandatorily fill up the…
Need for modification-Property details tab in CERSAI
Property details page can be accessed through 'Property Details' tab in CERSAI. This is the only page where you will find 'Locality' as a mandatory field. It is been asked in other tabs also. But tho…
Problem of Partnership Firm as Borrower in CERSAI
A partnership firm may or may not have property of its own. Sometimes, the partners may have properties which may be mortgaged to the Bank for securing a loan. We are now dealing with the case of th…
What is new in Cersai Phase Two?
Central Registry of Securitisation Asset Reconstruction and Security Interest of India is a company licensed to register all securitisation transactions. Phase I of Cersai has been very difficult, es…
Registration of Mortgages with Cersai by Banks
Section 20 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act(hereinafter referred as Sarfaesi Act) directs the Central Government to set up a Centr…