Direct Answer
CERSAI (Central Registry of Securitisation Asset Reconstruction and Security Interest) is a centralized database designed to record security interests created on properties.
Registration rules for CERSAI:
• Timeline: Mandatory registration strictly within 30 days of charge creation.
• Fee Structure: ₹50 + GST for loans up to ₹5 Lakh; ₹100 + GST for loans strictly above ₹5 Lakh.
• Penalty: Delay triggers a fine of ₹1,000 per day and suspends the lender’s enforcement rights under SARFAESI.
• Timeline: Mandatory registration strictly within 30 days of charge creation.
• Fee Structure: ₹50 + GST for loans up to ₹5 Lakh; ₹100 + GST for loans strictly above ₹5 Lakh.
• Penalty: Delay triggers a fine of ₹1,000 per day and suspends the lender’s enforcement rights under SARFAESI.