Frequently Asked Questions

Untitled Document

Entity Registration------------------------------------------------------------------------------------------------------------------------------


ER 1: How to register a new entity?

Ans : Entity user has to fill registration form online. Form is available under "entity registration" link on our website www.cersai.org.in User needs to have digital signature to access CERSAI portal in order to fill the details of entity and the primary users. After filling in the details, forms need to be printed and duly signed by the authorised signatory whereafter these need to be sent along with the required documents (as mentioned in forms) at CERSAI address.


ER 2: How to check registration request status?

Ans: You can check the request status by using the link "If you have already registered using this link and wish to track the status your Registration Request, click here"

Digital Certificate, Login and Error/ Exception  Section-----------------------------------------------------------


DS 1: How to register Digital Certificate on CERSAI site?

Ans: User can login to the CERSAI portal with a valid digital signature, then

(1) Click on "I accept the agreement".

(2) Choose the option for, "Is your Digital Certificate Registered with CERSAI" as 'YES'.(For first time login, use option 'NO', register the digital signature and then log in again using the digital signature)

(3) Select the location of digital signature.


DS 2: System requirements to register digital signature in CERSAI portal
                                                                    or
What to do in case of Object Error (Exception Occurred)?
                                                                     or
What to do in case of error "Object does not support this property or method"?
                                                                     or
Response Message Error Occurred while signing the message "Refer to log for details"
                                                                     or
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: Please check the following:

(1) Java version should be between Java 6update30 and Java 8update25. Only one Java version should be available in the system. Already installed Java version can be checked from control panel->programs->Add or remove programs or uninstall a program.

(2) Check your digital signature certification path. Go to tool-> internet option->content->certificate-> double click on your certificate-> check certification path. Certificate status should be OK.

(3) You should have digital signature installed/inserted in the system and it should be readable. Digital Signature can be checked in internet explorer ->tools->internet options->content->certificates->certificate user name will be viewed there under personal tab.

(4) Token driver should be installed; the same can be checked in the control panel.

(5) Java console should show J sign applet initialized successfully. To open the Java console, go to control panel->double click on Java icon->click on advanced->click on the Java console->select show console->click on apply and then OK.

For Java version 8 follow the steps below:

1. Go to Control panel -> Java -> Advance

2. In Debugging section check the following options:

a. Enable Tracing

B.Enable logging

3. In Perform certificate revocation section

a. Enable option "Do not check (not recommended)"

4. In Advance security settings section

a. Uncheck the option "Enable blacklist revocation check"

b. Check the option "Use SSL 2.0 compatible client Hello format"

c. Check the option "Use SSL 3.0"

d. Check the option "Use TLS 1.0"

e. Uncheck "Use TLS 1.1"

f. Uncheck the option "Use TLS 1.2"

5. Add CERSAI site address 'https://www.cersai.org.in' under JAVA control panel->security


DS 3: Why Checker is getting the error message: "Response message signer certificate not set"?

Ans: Please check the following details:

1. Expiry date of the certificate. It can be checked in internet explorer under tools->internet options->content->certificates->certificate expiration date. The Certificate should not be expired.

2. System date and time should be accurate and updated.


DS 4: What to do when Checker is getting the error message: "Digital signature verification failed"?

Ans: When logging in CERSAI portal user needs to select an option as "NO" for the option "Is your Digital Certificate Registered with CERSAI".


DS 5: What types of digital signature are required for working on CERSAI?

Ans: SHA2 2048 (bits) Class II or III individual signer certificates are required.


DS 6: What to do when this message comes "Exception occurred type error" or "Exception occurred undefined is not a function" while accessing CERSAI in Google chrome?

Ans: As of Chrome Version 42, an additional configuration step is required. In Google chrome there is a plug in named "NPAPI plug-in" which need to be enabled. Do the following steps to enable it:

1. In your URL bar, write: chrome://flags/enable-npapi

2. Click the Enable link for the Enable NPAPI configuration option.

3. Click the Re-launch button that now appears at the bottom of the configuration page.


DS 7: What to do when this message comes "Exception occurred undefined is not a function" in case where java 8 is used with chrome or "Exception occurred object does not support property or method" when java 8 is used with Internet Explorer?

Ans: Please follow the below mentioned steps

1. Go to Control panel-> Java -> Advance

2. In Debugging section check the following options:

a. Enable Tracing

b. Enable logging

3. In Perform certificate revocation section

a. Enable option "Do not Check (not recommended)"

4. In Advance security settings section

a. Uncheck the option "Enable blacklist revocation check"

b. Check the option "Use SSL 2.0 compatible client Hello format"

c. Check the option "Use SSL 3.0"

d. Check the option "Use TLS 1.0"

e. Uncheck "Use TLS 1.1".

f. Uncheck the option "Use TLS 1.2"

5. Add CERSAI site address 'https://www.cersai.org.in' under JAVA control panel->security


DS 8: What to do when this message comes "Digital certificate belongs to some other user".

Ans: The respective digital certificate is already tagged with another user, in case does not belong to respective user then ask the user to login with his/her own digital certificate. After successful login, prior digital certificate will be automatically released from the tagged user and will be available for further usage on CERSAI. One digital certificate cannot be used by user on two different user ids.


DS 9: Which type of users are required to have digital certificate for working in CERSAI portal?

Ans: As of now, every user except the maker users, require digital signature for working in CERSAI portal.


DS 10: How to get or reset Digital certificate password?

Ans: Please contact your E-token vendor to provide or reset your digital certificate password.

Maker Section---------------------------------------------------------------------------------------------------------------------------------------


M 1: How can maker view records rejected by the checker?

Ans: Maker can view the rejected record under "Maker FYA" link. Select the type of transaction (which was selected by the maker while making the entry) and click on show details to view the rejected record, Maker can then make corrections and resubmit or discard the record as required.


M 2: How to get a queue reference number when the maker has not noted down the queue reference number of the record entered and the record is pending for checker's approval?

Ans: Once the transaction has been successfully submitted by the maker in CERSAI portal an email confirmation is sent at the maker's registered email Id. Also a maker can view queue reference number in "Unfinished Transaction Report" link available under 'Reports'.


M 3: How to get the list of pending /unapproved transactions?

Ans: User can download report of pending/ unapproved transactions using link "Unfinished Transaction Report". Records appearing in this report are yet to be approved by the checker.


M 4: How to satisfy the charge with the Central Registry upon repayment of the loan amount once the borrower has repaid the amount fully / How to satisfy a record?

Ans: Maker User can go to the link "Satisfaction of Security Interest" and enter the charge satisfaction date along with a reason for satisfaction. Once satisfaction of SI is initiated it becomes pending for checker's action. Once checker approves the satisfaction transaction the charge becomes satisfied with CERSAI system.


M 5: What should be filled under PAN number, in case the borrower does not have a PAN number what should be filled under PAN number?

Ans: Default Pan Number, i.e. "AAAAA9999B" is recommended in cases where borrower does not have a pan number.


M 6: How to amend the record where the queue reference number has been generated and same is pending for checker's action?

Ans:Please find the following

(1) No correction/modification is permitted once maker submits the record.

(2) The Checker has to first reject the record and enter rejection comments,

(3) After rejection, rejected records will come under Maker's "Maker FYA" link.

(4) Maker has to select the type of transaction, make necessary corrections and resubmit the record.

.


M 7: When to use link "Add SI on existing asset"?

Ans: This link is used by joint charge holders. The Lead charge holder bank has to enter the charge using "Add SI on Existing Asset" link-> enter the asset Id and fill the details. In cases where a provision for the consortium member banks to add charge on the same property is not created, then lead bank has to be advised by the concerned bank to create provision for the joint charge holders using "Correction of SI" link->enter SI Id->Type of charge->Add SI holder.


M 8: How to file charges in cases in which multiple properties are mortgaged for a single loan account?

Ans: In such cases, multiple entries have to be made in the system as each and every property has to be identified uniquely. eg: If 5 properties are mortgaged for a single loan account, 5 entries should go into the system.


M 9: How to create a provision for the 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 the tab "Nature of SI".


M 10: How to know user administrators for your entity

Ans: Users can go to the link "Know Your Administrator"; it will display names, email Id's and contact details of the primary and secondary user administrators. They can also act as a 'Checker'.


M 11: What will be security interest Id for phase-I records?

Ans: In case where any change has to be made in phase-I records, asset Id will be the security interest Id only, i.e. asset Id and security interest Id will be same for phase-I records.


M 12: How to download PDF file, in case maker has missed at the time of submitting the record?

Ans: A PDF of the Security Interest details cannot be downloaded at a later stage. Checker user can view the record details entered by maker under checker FYA link.


M 13: How to carry out amendments in the charge entered?

Ans: Once the record is filed in CERSAI, user can use "Correction of SI" tab to make corrections in borrower details, charge holder details, 3rd party details, document details, loan details, etc."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 filed with CERSAI.


M 14: What to do when Maker is getting the error "please check all details of the _____ tab/tabs", which is highlighted in RED?

Ans: The maker has to go to the tab which is in RED and check the data entered. Invalid data need to be rectified.


M 15: How to register Mortgage other then a deposit of title deed, e.g. registered or others (e.g. English, simple etc.)?

Ans: Select type of asset: Immovable's from Qualifiers for Adding Security Interest and then selects the applicable type.


M 16: What to do when this message comes "Exception occurred please try again" ,"Exception occurred error 1584 error "or drop down are not populating while accessing CERSAI using the Internet Explorer?

Ans: Please follow the below mentioned steps:

1. Clear cache

2. Go to Internet Explorer->tools->Internet Options->Advanced->Security-> Uncheck both the checked points(Check for publisher's certificate revocation and Check for server certificate revocation)->Apply->OK. or Access using Google Chrome or Mozilla Firefox Uncheck the option Check for publisher's certificate revocation

3. Give full Access

4. Give access to URL Requests made from the CERSAI Application, like URL to VeriSign

5. Access CERSAI website through the link https://www.cersai.org.in.

6. If proxy is used then mapping should be done to https://www.cersai.org.in then the IP address.

7. Please uncheck the option "Compatibility View" available under tools.

Alternatively, Google Chrome or Mozilla Firefox may be used to avoid this error.

Checker Section-----------------------------------------------------------------------------------------------------------------------------------


C 1: How checker can confirm or reject the entry entered by the maker in CERSAI system?

Ans: The checker should log in to the CERSAI Portal and verify the transaction by following mentioned steps:

1. Click on link Checker FYA

2. Enter user id of the maker and select the type of transaction to be authorized.

3. The System will display the list of pending transactions to the checker.

4. The Checker can select one of the transactions by using radio button and click on show details.

5. Now, Checker can view the data entered and can approve or reject, as per requirement.


C 2: How to change role of the user?

Ans: Role change of user member can be done by the Primary User Administrator and Secondary User Administrator of the entity only, using the link "Amend member user".


C 3: Can a Maker user authorize his own entered entries?

Ans: A user can not authorize his own entries. Authorization can only be done by some other checker user.


C 4: Can the Challan be downloaded for subsisting records?

Ans: The Challan can be downloaded only for records, where any amount has been charged. Hence, please check the applicability of charge for a particular transaction. Checker user who approved the record or User Administrator can download online report for authorized transactions by using the link download online report.


C 5: What to do, in case Checker getting the message "account balance insufficient"?

Ans: This message is displayed when the available balance of the entity with CERSAI is insufficient. Users need to contact their head office/user administrator in such a case to deposit sufficient amount in CERSAI account so that the fee for the entry(ies) may be deducted.


C 6: What to do, In case User is unable to open Challan file?

Ans: User needs to rename the donloaded file by appending ".rar" to the end,i.e rename 'CERSAI_CHALLAN_FOR_ADDITION' to 'CERSAI_CHALLAN_FOR_ADDITION.rar' and then unzip the file.


C 7: How to rectify or amend user details, whenever a user is transferred to another branch or retired?

Ans: Any amendment in user details can be done by the user administrator of the respective financial institute, using the "Amend member user" tab. Once it is done, other user administrator-checker need to verify the same.

Functional Section------------------------------------------------------------------------------------------------------------------------------


FP 1: What is the applicability of Registration System?

Ans: The Provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) are applicable to secured creditors as defined by section 2(1) (zd) of the Act. In terms of the definition following categories of secured creditors are governed by the SARFAESI Act:

(i) Banks

(ii) Financial Institutions

(iii) Debenture Trustee appointed by any bank or financial institution

(iv) Securitisations Company (SC) or Reconstruction Company (RC)

(v) Any other trustee holding securities on behalf of a bank or financial institution.

In terms of the definition of bank and financial institution contained in section 2(1) (c) and (m); 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. 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, by issue of Notifications as under:

a) Notification No.SO105 (E) dated 28.01.2003 has declared Co-operative Bank as defined in clause (cci) of section 5 of the Banking regulation Act, 1949 as 'bank' for the purposes of SARFAESI Act.

b) Notification No.So.1282(E) dated 10.11.2003 has declared certain Housing Finance Companies registered under section 29A of the National Housing Bank Act, 1987, as 'financial institutions' for the purposes of SARFAESI Act.

c) Notification No.SO 1275(E) dated 30.10.2003 has declared Asian Development Bank as 'financial institution' for the purposes of SARFAESI Act.

d) Notification No.SO772(E) dated 17.05.2007 has declared Regional Rural Banks as defined in clause (f) of section 2 of the Regional Rural Banks Act, 1976 as 'bank' for the purposes of SARFAESI Act.

All such entities are secured creditors for the purposes of SARFAESI Act and are required to file 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). 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. Such trustee companies are also secured creditors for the purposes of the SARFAESI Act and are governed by the requirements of the Registration System. RBI vide their letter number RBI/2013-14/369, dated Nov 12, 2013 have advised all NBFC's also to file the Security Interest created in their favor. As per Notification G.S.R. 102 (E): Particulars of creation, modification or satisfaction of the security interest in immovable property by mortgage other than a mortgage by deposit of title deeds, hypothecation and intangible assets shall be filed in Form I or form II,as the case may be.


FP 2: What types of Security Interests are required to be filed with CERSAI?

Ans: The Central Government has notified the Securitisations and Reconstruction of Financial Assets and Enforcement of Security Interest (Central Registry) Rules, 2011 (Central Registry Rules) with effect from 31st March 2011. In terms of the provisions of the said Rules, the Forms have been prescribed for the purposes of registration of follow transactions with CERSAI:

(i) Creation of mortgage by deposit of title deeds in favor 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 for registration of charges other than a mortgage by deposit of title deeds by the secured creditors. Hence, for the present, the secured creditors are required to file particulars of only equitable mortgages with CERSAI.


FP 3: What is Registration of Securitisation and Reconstruction Transactions?

Ans: Banks and financial institutions undertake Securitisation of healthy assets, but such Securitisation may not be under the provisions of the SARFAESI Act. The assignment of loan receivables with or without the benefit of underlying securities is done in favor of a Special Purpose Vehicle (SPV), using the provisions of the Indian Trust Act, 1882. Such assignment of loan receivables may or may not be in favor of any Securitisation Company or Reconstruction Company registered under the provisions of section 3 of the SARFAESI Act. In the latter case the Securitisation transactions are not required to be filed with CERSAI. If any Securitisation Company or Reconstruction Company registered under the SARFAESI Act acquires loan receivables for Securitisation or asset reconstruction, such transactions are required to be registered in Form-III prescribed under the Central Registry Rules. It needs to be noted that registration of transactions of Securitisation or reconstruction has no connection 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. All such transactions of Securitisation or reconstruction are also required to be filed with CERSAI. In many cases, such Securitisation or reconstruction transactions would relate to a bundle of loans consisting of many loan accounts acquired from any bank or financial institution. In such cases, the Asset Reconstruction Company can opt for either partial satisfaction or complete satisfaction in Form-III depending on the loans under the portfolio which have been satisfied. In case, where a form-I is filed in respect of any asset, for satisfaction of loan against such an asset,a form-II is required to be filed by Securitisation Company or Reconstruction Company. All Securitisation and Reconstruction Companies registered with Reserve Bank of India are also secured creditors for the purposes of SARFAESI Act. Hence, if in the process of reconstruction of any loans acquired by Securitisation or Reconstruction Company, a mortgage is created in favor of Securitisation or Reconstruction Company to secure the reconstructed loans or any further finance granted to the borrower, such mortgage details created in favor of Securitisation or Reconstruction Company will also have to be filed with the CERSAI in form-I.


FP 4: 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.However all security interests by way of creation of mortgage by deposit of title deeds as also transactions of Securitisation and asset reconstruction whether before or after this date are required to be filed. The relevant Rules have been given retrospective effect and hence all transactions of mortgages or Securitisation or asset reconstruction undertaken are required to be filed.


FP 5: What are equitable mortgages in favor of trusts/trustee companies?

Ans: As stated above, the definition of secured creditor under the SARFAESI Act includes 'Trustees acting on behalf of any bank or financial institution'. In cases where equitable mortgages are created in favor of a trustee or a trustee company, Form-I should be filed by such trustee and in Para 7 of Form-I, name of the charge holder may be stated as under: 'Trustee Company acting on behalf of Bank and Financial Institutions'. (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).


FP 6: Is there any requirement to file CGH-1 (u/s. 77) of the Companies Act 2013 for creation or modification of charge. Does the filing of equitable mortgage before this Registry in any way affect this requirement for ROC filing or registration under the Registration Act, 1918?

Ans : The Central Registry system established under the SARFAESI act is in addition to and supplemental to other registration systems already in operation under other laws such as the Companies Act or Registration Act, 1918. The registration under the SARFAESI Act does not in any way affect or change the requirement of registration under other laws. Please refer to sub-section (4) of section 20 of the SARFAESI Act.


FP 7: 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 bank in respect of the charge filed on a particular property. A property can have only One Asset Id while Security Interest ID's for the same asset will be different for every bank.


FP 8: What types of security registration come under Subsisting records?

Ans: Where a security interest created date is prior to their implication (Prior to GOVT notification: e.g. EMT registration notification has been circulated on 31st March 2011 and filing of charge of movables, intangible, mortgages other than a deposit of title deeds and unit under construction were notified on Jan 22,2016 by Central GOVT of INDIA.


FP 9: Account details to pay charge registration fee?

Ans: The Primary user administrator has to update the details of fees deposited in CERSAI system, in "Credit details upload" link available under revenue management.

Bank details to deposit fee for registration of Equitable Mortgages are as under:

Bank: Bank of Baroda

Branch: Parliament Street, New Delhi

Account Name: CENTRAL REGISTRY OF SECURITISATION ASSET

RECONSTRUCTION AND SECURITY INTEREST OF INDIA (CERSAI)

Account No.: 05860200001270

IFS Code: BARB0PARLIA (5th digit should be read as ZERO)

Branch Code: PARLIA

Bank details for depositing Fee for registering Factoring transactions are as under:

Bank name: STATE BANK OF INDIA

BRANCH ADDRESS: BHIKAJI CAMA PLACE, NEW DELHI 110066

ACCOUNT NO: 32335468278

ACCOUNT NAME: CERSAI

IFSC CODE: SBIN0007755.


FP 10: How to create or deactivate The Primary user administrator?

Ans: It is mandatory to have two primary user administrators. For creation of a new primary user, administrator, the entity needs to send 'Form B' (available under downloads link) and for the deletion of the Primary User Administrator the entity needs to send 'Form C' at CERSAI address.


FP 11: How to find user Ids of already created users/Forgot user Id?

Ans: In case where user member has forgotten his user Id or it is invalid, the users can contact their 'User Administrator' to download 'User Created Report' which is available under "download online reports" for ascertaining their user Id.


FP 12: How the delay is calculated in case of whole turnover based factoring transaction?

Ans: The delay is calculated on the basis of Date of Agreement / Deed of Assignment filled in the Agreement tab.


FP 13: How to login with "What is it"?

Ans: User needs to evaluate the expression mentioned in the What is it field and enter the result in the area provided next to it. For example, if What is it mentions 6+8, the user will have to evaluate this expression and enter the result, that is 14 in the user editable field next to the expression.


FP 14: How a user can find any transaction request status?

Ans: Queue reference wise status can be used to view the current status of any transaction pending for checker or GOVT approval.


FP 15: How to discard rejected transaction in absent of a maker?

Ans: User administrator can discard the rejected records of the maker in his absence by using the link Maker FYA->amend sub user data-> user id->type of transaction->select the queue reference->discard.


FP 16: How to process entity merger on CERSAI?

Ans: User administrator of acquired entity can use the "Institution Merger Management" link to update the same and send respective document at given CERSAI address.


FP 17: What to do in case money has been remitted, but not credited to the usable amount?

Ans: Please confirm the status of deposit amount from your remitted bank, in case transferred successfully, then inform the respective official of CERSAI via email or call in:

Email id: smops@cersai.org.in

Contact number: 01123740169.


FP 18: What are the applicality of Fees, additional fees and condonotion?

Ans: Please refer the below mentioned table:

Type of asset Type of Registration Fee Addition Fee Condonation Batch Upload Facility
Movables Subsisting NO NO NO Not available
Current YES NO YES Available (If Security Interest being filed are within 30 days of Security Interest Creation within the Bank/FI)
Intangible Subsisting NO NO NO Not available
Current YES NO YES Available (If Security Interest being filed are within 30 days of Security Interest Creation within the Bank/FI)
Unit under construction Subsisting NO NO NO Not available
Current YES NO YES Not available
Mortgages other than by deposit of title deeds Subsisting NO NO NO Not available
Current NO NO YES Not available
Equitable Subsisting YES YES YES Not available
Current YES YES YES Available (If Security Interest being filed are within 30 days of Security Interest Creation within the Bank/FI)

Batch Section---------------------------------------------------------------------------------------------------------------------------------------


B 1: How to get the batch facility enabled for your entity?

Ans: Batch upload formats can be downloaded online from downloads link. An entity needs to send the created sample batch file in the given format to the CERSAI Helpdesk Team via email: helpdesk@cersai.org.in Helpdesk team will verify the correctness of the batch files and after successful testing by the Helpdesk Team, Batch Upload Facility will be enabled for the concerned bank.


B 2: Is CERSAI provides any software for preparing batch files?

Ans: CERSAI do not provide software for preparing a batch file. Batch files have to be prepared by concerned banks themselves on the basis of batch upload formats available online under downloads link.


B 3: Which type of transaction can be uploaded through batch?

Ans: Batch functionality available for Add security interest (EMT, movables, intangibles), Search, Satisfaction.


B 4: From which link, status of a batch file can be viewed?

Ans: Queue reference wise status link can be used to view the current status of the batch file.


B 5: How to get a report of batch file?

Ans: The Batch Report can be downloaded by using the link download batch report, once a file has been approved by the checker and processed completely by the System.

 

Report Section-------------------------------------------------------------------------------------------------------------------------------------


RP 1: Online reports are not reflecting for all records?

Ans: Please download security interest created report and a security interest created (Subsisting) for complete data.


RP 2: How to download reports of records approved by the checker?

Ans: Reports can be downloaded by using download online report option:

1. Primary user administrators and secondary user administrators can download reports of charges filed by all the users.

2. Checkers with role code C03 (data collection checker) and role code C06 (multifunction checker) can only download reports of the records approved by them.

3. Makers with role code M03 (data collection maker) and makers with role code M06 (multifunction maker) cannot download/check reports of a charge created.


RP 3: How to get Asset Id and Security Interest Id, where only queue reference number is available?

Ans: Asset Id and Security interest Ids can be obtained by downloading online reports. Checker and user administrators can download reports of charges filed with CERSAI. A checker (who has approved the records) can download the reports of transactions approved by him/her and a User Administrator can also download the reports of all the records entered by all the users. Challans can also be downloaded, for approved records, to view 'Asset Id' and 'SI Id'.


RP 4: Are there any restriction to download report?

Ans: Please refer below mentioned details:

1) Mentioned links are available, 24*7 to the Primary User Administrator

a) Download Batch Reports

c) Advance Tax Report

d) Monthly Service Tax Report (Before 27 March 2014)

e) Delay Condonation Report

f) State Wise Registrations Report

2) Mentioned link available 24*7 to the Checker

a) Download Batch Reports

3) Mentioned link available before 10 am or after 5pm to Checker and User administrator

a) Download Online Reports

b) Unfinished transaction Report

The Unfinished transaction report can be downloaded only by respective Maker or user administrator before 10 am or after 5pm. Online Reports can be downloaded by the respective Checker (Who has verified the transaction) or User administrator.


Password Reset-----------------------------------------------------------------------------------------------------------------------------------


PR 1: How to reset password when a user has forgotten the password?

Ans: Registered user can open www.cersai.org.in and click on the link "forgot password" and then answer the security question already set by him/her during earlier login.


PR 2: How to reset password when security question is not set or user has forgotten security question answer?

Ans: The User has to contact his/her user administrator to reset password. User administrator can reset password using "Amend Member User" link. On successful password reset system generated password is sent to the user's registered email Id.


PR 3: Password resets for primary user administrators (R02)?

Ans: The primary user administrator has to send an email at smops@cersai.org.in quoting their CERSAI user Id (in order to get a new password). User administrator will receive a new password in their email on his/her registered email Id.


Asset Reconstruction Company-----------------------------------------------------------------------------------------------------


ARC 1: How to transfer charge from the bank to ARC?

Ans: ARC cannot fill the asset Id of the Equitable Mortgage in Form III in case the bank has not transferred the charge on ARC's name. Bank can transfer the charge using "Modification of SI" tab, enter security interest Id and select type of transaction as 'Charge Transfer'. Bank has to enter details of ARC on whose name charge transfer is done. This facility for changing the name of charge holder is available only in case of sale to ARCs.


ARC 2: How to file form III in case where form I has not been entered by bank in CERSAI system?

Ans: While the ARC can file Form-III, the tagging of equitable mortgage if any, in the account will take place only if the transferring bank had filed Form-I. In such case, ARC has to contact the respective bank(Assignor) to enter its charge in CERSAI system and then transfer it in favor of the ARC or fill Form-I themselves in CERSAI.


ARC 3: How many forms III to be filled, If the ARC has bought multiple accounts having a single property mortgaged from different banks?

Ans: Only one form-III has to be filed for every Assignment Agreement, whether it involves one account or multiple accounts. However, in case the transferring bank had not filed Form-I and ARC decides to file it, it will have to file separate Form-I for every property mortgaged.


ARC 4: How to fill form III in the case where security interest Id belongs to another entity?

Ans: In this case concerned entity (IEs) has to transfer the security interest in the name of ARC by using "Modification of SI" tab, by selecting the type of transaction as charge transfer and the concerned Security interest Id will have to be filled in Form-III by the ARC. The facility of charge transfer from banks to other entities is available only in case of sale of assets of ARCs. In all other cases, banks will have to satisfy their charge and the new charge holder will have to register it charge afresh.


Goods and Service Tax ---------------------------------------------------------------------------------------------------------------------


GS 1: What is the CERSAI GST number and SERVICE ACCOUNTING CODE (SAC)?

Ans: The CERSAI GSTIN: 07AAECC5770G1ZN And CERSAI SERVICE ACCOUNTING CODE (SAC) : 998439


GS 2: Which GST will be applicable to CERSAI registration (IGST OR CGST & SGST) for the entity?

Ans: For Delhi: CGST &SGST and outside Delhi: IGST will be applicable.


GS 3: What is the GST applicable rate for CERSAI registration?

Ans: Currently 18% will be charged as GST for CERSAI service.


GS 4: What to do when GST number is not available in Challan?

Ans: Please contact your bank head office to share their GST number with CERSAI for updating.


GS 5: GST number cannot be viewed in public search Challan?

Ans: GST number is not available for public search users.


Search Functionality--------------------------------------------------------------------------------------------------------------------------


SF 1: How can we ascertain the status of registration of the property or asset with CERSAI?

Ans: Registered users with respective roles can use "Data Enquiry" functionality available on the CERSAI portal after successful login with a user id and password. Public search functionality can be used by anyone, Please refer user manual for further clarification.


SF 2: What type of data is required to perform a search?

Ans: Search options are available under "Data Enquiry" section. It can be on the basis of the asset details (Online Search), Asset ID (Asset ID Based Verification and Online Search - Movables/Intangibles) and debtor (Debtor Based Search).


Movable/Intangible Section -------------------------------------------------------------------------------------------------------------


MI 1: How to remove charge from CERSAI?

Ans: Satisfaction of SI (Security Interest) has to be done on the CERSAI portal when all the loans on the asset have been repaid.


MI 2: What is the applicable fee for registering subsisting Movables securities with CERSAI?

Ans: Currently no fee or penalty is charged for registering such securities.


MI 3: How to create a provision for the 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 the tab "Nature of SI".


MI 4: How to get the list of pending/unapproved transactions?

Ans: List of Unfinished Transactions is available under "Report" section.


MI 5: How to carry out amendments in the charge entered?

Ans: Once the record is filed in CERSAI, user can use "Correction of SI" side link to make corrections in Borrower, Charge holder,TPM,Loan details etc.


"Modification of SI" menu option / side link has to be used in cases where loan amount has to be enhanced or new loan has to be added in property already filed with CERSAI. Modification of SI is chargeable as per Rule 7 of Central Registry Rules 2011.


MI 6: Why GOVT approval page appears while doing Correction of SI?

Ans: GOVT approval has to be filled for every transaction related to a correction, irrespective of numbers of days of delay.


MI 7: How to file charges where multiple assets are mortgaged/hypothecated for a single loan account?

Ans: In such cases, multiple entries have to be made in the system as each and every asset has to be identified uniquely. e.g. If 5 assets are mortgaged for a single loan account, 5 separate entries should go into the system


MI 8: What should be filled under PAN number, In case the borrower does not have a PAN number?

Ans: Default PAN, i.e. "AAAAA9999B" is recommended in cases where the borrower does not have a PAN.


MI 9: What needs to be done, in case of getting error "Internal Server error code 1461"

Ans: Please do not enter any generic value, e.g. NA or invalid default pan card number etc.


MI 10: What is a VIN number?

Ans: The VIN number is the Vehicle Identification Number.

 

 

 

 

Central Registry of Securitisation Asset Reconstruction and Security Interest of India