CERSAI

-----------------------------------------Digital Certificate, Login and Error/ Exception Section--------------------------------- DS 1: How to register Digital Certificate on CERSAI site? Ans : The CERSAI Portal Ask for the digital Signature when user login, choose the option for Is your Digital Certificate Registered with CERSAI 1. Select Option “NO” if you are login to the system for the first time 2. If your Digital Signature is already registered or successfully registered from step 1 above Select “YES” DS 2: What to do in case of error wrong password/Null password entered at the time of Digital Signature verification even if the token password is correct? Ans : Go to user home directory of your local computer 1. Delete the following files with names 2. fs7.txt 3. pkcs11.cfg 4. Re-login to CERSAI portal DS Ans : 3: What to do in case of Object Error (Exception Occurred)? 1. Make sure correct version of java is installed on your PC the correct version is JDK1.6.0_29 . 2. If more than 1 java versions are installed, Remove All the java version installed in your system and install JDK1.6.0_29 or above. 3. If Proxy settings are used ensure that java applets are allowed in the proxy settings 4. Ensure J sign object initialized successfully in java console 5. Make sure system is displaying current date and time Make sure correct version of java is installed on your PC the correct version is JDK1.0_29 or above. System date and time should be accurate DS 7: “Response message signer certificate not set”? Ans : Please check for the following: 1. 2. Expiry date of the certificate 2.6. 3. .6. If more than 1 java versions are installed.DS 4: What to do in case of error “Object does not support this property or method”? Ans : 1.0_29 . Is your Digital Certificate Registered/active with CERSAI DS 6: Response Message Error Occurred while signing the message ’Refer to log for details’? Ans : Please check for the following: 1. error 6011? Ans : 1. Remove All the java version installed in your system and install JDK1. System date and time should be accurate DS 8: Type of digital signature required? Ans : SHA2 2048(bits) Class II or III individual signer certificates are required. If Proxy settings are used ensure that java applets are allowed in the proxy settings DS 5: What to do when Checker is getting: Digital certificate verification failed. Make sure checker is selecting the option as “NO” for: 2. Expiry date of the certificate 2. Go to link Checker FYA 2. 4. 2. Enter the rejection comments and click on Reject button C3: How to change role of the user? Ans : Role change can be done by the primary user administrator and Secondary user administrator of the entity only. Enter user id of the maker and select the type of transaction to be authorized 3. . Enter user id of the maker and select the type of transaction to be authorized 3. C2: How to reject an entry made by maker? Ans : Checker should login to the CERSAI Portal 1. Uncheck the boxes where error is found 5. The transaction generated can be authorized by the checker one by one. Go to link Checker FYA.-----------------------------------------------------------------Checker Section----------------------------------------------------------------- C1: How to authorize entries made by the maker? Ans : Checker should login to the CERSAI Portal 1. C4: Can a Maker user authorize his own entries? Ans : A user can not authorize his own entries. The pending list of transaction of type selected as in step 3 above would be displayed to you. Select the queue reference number 4. Authorization part can only be done by some other checker user. M4: How to close the loan once borrower has repaid the amount/how to satisfy a record ? Ans : Maker User can go to the link “satisfaction of security interest” and enter charge satisfaction date along with reason for satisfaction. M3: How to get list of pending /unapproved transaction? Ans : Pending transaction report can be downloaded through link Unfinished Transaction Report. and then same is pending for checker‟s verification. M2: Maker has not noted down the queue reference number of the record entered but pending for checker’s approval. -----------------------------------------------------------------Maker Section----------------------------------------------------------------M1: How maker can view records rejected by checker? Ans : Maker can view records rejected by 1. Click on Maker FYA link.C5: Whether challan can be downloaded for subsisting records? Ans : No challan is generated for subsisting records as these transaction do not attract any fee. 2. Also maker can view it in unfinished transaction report. Select the type of transaction and can do necessary corrections and resubmit or you can discard the record as required. Once checker approves the transaction charge becomes satisfied. M5: In case where borrower does not have PAN number? . how to get queue reference number? Ans : Once transaction has been successfully submitted by the maker email confirmation is being sent at the maker‟s registered email Id. 3. contact details of the primary and secondary user administrators. i. After rejection rejected record will come under maker‟s maker FYA link. M8: How to register charge in case multiple properties are mortgaged for single loan account ? Ans : In such cases multiple entries has to made in the system as each and every property has to be identified uniquely. 2. email Id‟s . . M10: How to know user administrators for your entity ? Ans : Users can go to the link “know your administrator”. Lead bank has to tag other banks involved in the charge.e AAAAA9999B has been recommended in cases where borrower does not have a pan number. They can also act as a checker.eg : If 5 properties are mortgaged for single loan account . it will display names . Checker has to first reject the record. 5 entries should go into the system M9: How to register joint charge holder ? Ans : Lead bank has to create a provision to add another charge holder/ bank by using correction of Security interest tab and selecting tab “nature of SI”. M7: When to use link “Add SI on existing asset”? Ans : This link has to be used in case where joint charge or consortium finance is involved. M6: How to amend the record where queue reference number has been generated and same is pending for checker’s action? Ans : 1. Now Maker can do necessary corrections and resubmit the record.Ans : Default Pan Number. e asset Id and security interest Id will be same for phase-I records. 2002 (SARFAESI Act) are applicable to secured creditors as defined by section 2(1)(zd) of the Act. M13: How to do amendments in charge entered ? Ans : Once record is registered in CERSAI. highlighted in grey color and rectify the error. M12: Maker has not downloaded PDF after submitting the record ? Ans : PDF cannot be downloaded at a later stage. i. asset Id will be the security interest Id only. loan details etc. M14: Maker getting error while submitting the record: please check all details of _____ tab/tab shown in RED? Ans : Maker has to go to the tab reflecting in RED and check the field. Modification of SI tab has to be used in cases where loan amount has to be enhanced or new loan has to be added in property already registered with CERSAI. In terms of the definition following categories of secured creditors are governed by the SARFAESI Act: (i) Banks . document details. user can use correction of SI tab to do corrections in borrower details. charge holder details. 3rd party details. -------------------------------------------------------------Functional Section------------------------------------------------------------ FP1: What is the applicability of Registration System Ans : The Provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act.M11: What will be security interest Id for phase-I records ? Ans : In case where any change has to be made in phase-I records. SO 1275(E) dated 30.SO105(E) dated 28.1282(E) dated 10.2003 declaring Co-operative Bank as defined in clause (cci) of section 5 of the Banking regulation Act. In terms of the provisions of the said Rules.11. All such entities are secured creditors for the purposes of SARFAESI Act and are required to register security interest by way of mortgage by deposit of title deeds with the Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI).2003 declaring certain Housing Finance Companies registered under section 29A of the National Housing Bank Act. d) Notification No. c) Notification No. the Central Government has powers to declare any other bank or financial institution as a bank or financial institution for the purposes of the provisions of the SARFAESI Act. Such trustee companies are also secured creditors for the purposes of the SARFAESI Act and are governed by the requirements of the Registration System. 1949 as 'bank' for the purposes of SARFAESI Act. 1976 as 'bank' for the purposes of SARFAESI Act.SO772(E) dated 17. In terms of the definition of bank and financial institution contained in section 2(1)(c) and (m). the Forms have been prescribed for the purposes of registration of following transactions with CERSAI: (i) Creation of mortgage by deposit of title deeds in favour of secured creditors: Form-I (ii) Satisfaction of Charge : Form-II (iii) Securitisation or Reconstruction of Financial Assets: Form-III (iv) Satisfaction of Securitisation or Reconstruction of Financial Assets : Form-IV It can be seen from the provisions of the Central Registry Rules that no Forms have been prescribed .So.01.2007 declaring Regional Rural Banks as defined in clause (f) of section 2 of the Regional Rural Banks Act.2003 declaring Asian Development Bank as 'financial institution' for the purposes of SARFAESI Act.05. 1987. as 'financial institutions' for the purposes of SARFAESI Act. by issue of Notifications as under: a) Notification No. IN addition to debenture trustees referred to in the definition of secured creditors there are certain trustee companies holding securities on behalf of banks and financial institutions.(ii) (iii) (iv) Financial Institutions Debenture Trustee appointed by any bank or financial institution Securitisation Company (SC) or Reconstruction Company (RC) (v) Any other trustee holding securities on behalf of a bank or financial institution. FP2: What types of Security Interests are required to be registered with CERSAI Ans : The Central Government has notified the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (Central Registry) Rules.10. 2011 (Central Registry Rules) with effect from 31st March 2011. In exercise of the above powers the Central Government has declared certain banks and housing finance companies as financial institutions for the purposes of the SARFAESI Act. b) Notification No. Such assignment of loan receivables may not be in favour of any SC or RC registered under the provisions of section 3 of the SARFAESI Act. a mortgage is created in favour of SC/RC to secure the reconstructed loans or any further finance granted to the borrower. the secured creditors are required to file particulars of only equitable mortgages with CERSAI. If any SC or RC registered under the SARFAESI Act is acquiring loan receivables for securitisation or asset reconstruction. any SC/RC registered with Reserve Bank of India is also a secured creditor for the purposes of SARFAESI Act. However. using the provisions of the Indian Trust Act. It needs to be noted that registration of transactions of securitisation or reconstruction has no relevance with creation of mortgage by deposit of title deeds. There could be cases where securitisation or reconstruction is undertaken in respect of loan receivables which are unsecured or secured by security interest other than mortgage by deposit of title deeds. Such securitisation transactions are therefore not required to be registered with CERSAI. It is not necessary that the loans acquired by SC/RC for the purpose of securitisation or reconstruction or secured by mortgage by deposit of title deeds. satisfaction of the securitisation / reconstruction transaction will have to be filed with CERSAI after all the accounts contained in such bundle of loans are satisfied or otherwise closed. In many cases. such mortgage created in favour of SC/RC will have to be registered by filing Form-I with the CERSAI. if only part of such loan portfolio acquired by SC/RC is settled and recovered. if in the process of reconstruction of any loans acquired by SC/RC. All such transactions of securitisation or reconstruction are required to be registered with CERSAI. but such securitisation may not be under the provisions of the SARFAESI Act. The Registration System has therefore become effective from 31st March 2011 and all security interests by way of creation of mortgage by deposit of title deeds as also transactions of securitisation and asset reconstruction on and after 31st March 2011 are required to be registered. Hence. .for registration of charges other than mortgage by deposit of title deeds. such securitisation or reconstruction transactions would relate to a bundle of loans consisting of many loan accounts acquired from any bank or financial institution. FP3: what is Registration of Securitisation and Reconstruction Transactions Ans : Banks and financial institutions undertake securitisation of healthy assets. such transactions are required to be registered in Form-III prescribed under the Central Registry Rules. It is not necessary to file any Form for Satisfaction. In such cases. Hence for the present. 1882. The assignment of loan receivables with or without the benefit of underlying securities is done in favour of a Special Purpose Vehicle (SPV). FP4: What is the effective date of the Registry System Ans : The Government notifications of establishing the Central Registry and prescribing the Central Registry Rules as well as for appointment of the Central Registrar are all dated 31st March 2011. . In cases where equitable mortgages are created in favour of a trustee or a trustee company.. FP7: Who should file charge in case title documents are held by some third party acting as a custodian? Ans : Charge should only be filed by those banks having security interest on that asset. (The names of the Banks and Financial Institutions on whose behalf the trustee is holding the securities may be indicated after the name of the trustee / trustee company). 125-128. 1918 Ans : The Central Registration system established under the SARFAESI act is in addition to and supplemental to other registration system already in operation under other laws such as the Companies Act 1956 or Registration Act. such transaction will require registration.. Form-I should be filed by such trustee and in para 7 of Form-I.. Financial Institution'. If in any loan accounts there is a release and re-deposit of title deeds on or after 31st March 2011 amounting to creation of mortgage.... The registration under the SARFAESI Act does not in any way affect or change the requirement of registration under other laws. Trustee Company acting on behalf of . Please refer to subsection (4) of section 20 of the SARFAESI Act. A ..The relevant Rules have not been given retrospective effect and hence transactions of mortgages or securitisation or asset reconstruction undertaken prior to 31st March 2011 are not required to be registered.. FP8: What is the difference between Asset ID and Security Interest ID? Ans : Asset Id is a unique ID which is mapped to the property registered in CERSAI while Security Interest ID is the Id which is mapped to the charge filed by a bank on a particular property. FP6: As of now there is a requirement to file Form 8 under the Companies Act for creation or modification of charge u/s.. FP5: what are Equitable mortgages in favour of trusts/trustee companies Ans : As stated above. Bank and . 1918.. the definition of secured creditor under the SARFAESI Act includes trustee acting on behalf of any bank or financial institution and is a secured creditor for the purposes of SARFAESI Act. Does the filing of equitable mortgage before this Registry in any way affect this requirement for ROC filing or registration under the Registration Act. Custodian cannot file charge on behalf of other banks. name of the charge holder may be stated as under: '... FP11: How to pay charge registration fee? Ans : Member entities are required to make payment towards number of expected mortgage created within 45 days multiply by Rs.500/by way of RTGS. FP10: Are there any charges for correction of security interest? Ans : No charges are specified for correction of charge by CERSAI.property can have only 1 asset id while multiple Security Interest IDs can be created on the same Asset ID.: IFS Code: BARB0PARLIA (5th digit should Branch CERSAI Bank BRANCH ACCOUNT Code: FACTORING FEES COLLECTION name: STATE BANK ADDRESS: BHIKAJI CAMA PLACE. Last date for entering these records is 30th September ‟2012 . New Delhi Account Name: CENTRAL REGISTRY OF RECONSTRUCTION AND SECURITY INTEREST Account No. FP9: What do you mean by Subsisting records? Ans : Records where charge creation date/EM creation date is prior to 31st Mar „2011 are categorized as subsisting records. No fee is levied for such records. NO: NAME: SECURITISATION ASSET OF INDIA (CERSAI) 05860200001270 be read as ZERO) PARLIA ACCOUNT DETAILS OF INDIA NEW DELHI 110066 32335468278 CERSAI ACCOUNT IFSC CODE: SBIN0007755 ----------------------------------------------------------------Batch Section---------------------------------------------------------------- . Details are mentioned below: Bank: Bank of Baroda Branch: Parliament Street. ----------------------------------------------------------------Report Section---------------------------------------------------------------- RP1: Online reports are not reflecting for all records? Ans : In case where records with charge creation date/loan date is post 31st Mar‟2011 then reports of records entered can be downloaded by selecting online report type as Security interests created. Batch files have to be prepared by concerned banks themselves.B1: Ans : How to get batch facility enabled? 1. Send the generated Batch file to CERSAI Helpdesk Team 2. For charges/records where charge creation date/loan date is prior to 31st Mar‟2011 reports can be downloaded by selecting online report type as Security interests created (subsisting records). The Helpdesk team verifies the correctness of the batch file 3. After successful completion of testing process by the Helpdesk Team Batch Upload Facility will be enabled for the concerned bank. Primary user administrators and secondary user administrators can download reports of charge created by all the users. B2: Whether CERSAI provides any software for preparing batch files? Ans : CERSAI do not provide any software for preparing batch file. RP2: Ans : How to download reports of records approved by the checker? 1. . Makers (M03 and M06) cannot download reports of charge created. RP3: How to get Asset Id and Security Interest Id. . BEST VIEWED IN INTERNET EXPLORER 7. Checker can download the reports of transactions which has been approved by his Id only and user administrator can download the reports of all the records entered by all the users. 3. COPYRIGHT © 2011 CERSAI ALL RIGHTS RESERVED. THIS SITE IS POWERED BY TATA CONSULTANCY SERVICES LTD. where only queue reference number is available? Ans : Checker and user administrators can download the reports of charge registered with CERSAI. Users with role code C03 and C06 can only download reports of the records approved by them.0 1024X768.2.