CERSAI User Manual – Movables Registration

version 1.0

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Table of Contents

Login ................................................................................................................................................... 3

Data Collection ................................................................................................................................... 4

Add Security Interest ...................................................................................................................... 4

Modification of Security Interest ................................................................................................... 16

Modify Existing Loan .................................................................................................................18

Add New Loan ............................................................................................................................18

Satisfaction of Security Interest .................................................................................................... 20

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Login Login to the CERSAI portal.

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Data Collection

Primary / secondary admin users, data processing maker / checker users, multi-function maker /

checker users can file Security Interest in the CERSAI Web Portal by clicking on the ‘Add Security

Interest’ link.

Add Security Interest

The following window will appear wherein system will ask for important qualifiers which are

needed to file a Security Interest on the CERSAI system.

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At first, select the ‘Type of Asset’ – Immovable, Movable or Intangible. Thereafter, select the ‘Type

of Security Interest’.

After clicking the ‘Proceed’ button, system will display the Registration form which itself is

classified in to following tabs:

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Asset Details

Borrower(s)

Third Party(ies)

Nature of SI

SI Holder

Document(s)

Loan(s)

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Asset Details

Select applicable type of security from drop down list, enter respective details.

Borrower(s) Details

Select the applicable type of Borrower from the drop down list.

On selection of any one of the options, system will display the relevant fields on the form. Multiple

borrowers can be added through the ‘Add Borrower’ option. Already entered Borrowers can also be

deleted before submitting the form. However, there must be at least one borrower left for that

record.

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After filling all the details, including the mandatory fields, click on the next tab. If any error is

found in the data, the color of the tab will change to red. User will have to rectify the error before

submitting the form.

Third Party(ies) Details

If the Asset on which Security Interest being filed belongs to a third party, check the ‘Third Party

Mortgage’ checkbox under the Third Party Details tab. After that rest of the fields will be displayed

in the tab; user is required to fill this form with the details of the third party.

Nature of Security Interest

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Check the appropriate radio button for Consortium / Joint Security Interest depending upon the

type of Security Interest being filed.

In case of Consortium / Joint Security Interest, the lead bank must create provision for other

members of the Consortium / Joint Security Interest by adding them through this tab.

In order to add member institutions, user will have to click the ‘Add SI Holder’ button. After

clicking on the ‘Add SI Holder’ button, system will prompt the user to select the SI Holder Type

followed by the SI holder. Multiple SI holders can be added or deleted by clicking on the ‘Add SI

Holder’ and ‘Remove SI Holder’ buttons respectively.

Details of Security Interest Holder

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The SI Holder name will be automatically populated by the system. However, user will have to

enter the BSR code as well as address details of the security interest holder branch.

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Document Details

Enter the Evaluated price of Asset and the Security Interest creation date within the institution

followed by the details of the document. The document date / Registration date must be prior to

the Security Interest Creation Date.

Multiple Documents can be added through the ‘Add Document’ option. Similarly, already added

documents can also be deleted / removed through the ‘Delete Document’ option. However, at least

one document must be added in the form.

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Loan Details

Multiple loans can be added through the ‘Add Loan’ option.

After entering the details of all the loans tagged under the security Interest transaction being filed,

user will click on the ‘Submit Record’ button to file the charge in CERSAI. Upon submitting the

transaction, system will check if similar Security Interest transaction already exists (based on

borrower and Asset description) in the system or not and will show a list of any such matching

records to the user. User will have the option to select the existing Asset to tag their Security

Interest transaction with the matching asset shown by the system or create a new asset id based on

the information entered by the user.

System will show a confirmation dialog pop-up on the screen as shown below:

Click ‘Ok’ to continue.

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Once the record is successfully entered in the system, the system will generate a unique queue

reference number for that particular Security Interest Transaction and move the transaction to the

Checker’s queue for approval.

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Checker member user to login into CERSAI system with his/her Digital Signature, go to ‘Checker

FYA ‘ link & after entering Maker user ID, select type of transaction as ‘Add Security Interest’.

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System will display the list of security interest transactions entered by that particular maker

member user. Select the appropriate record & click on ‘Show Details’ button.

Checker has to verify the details & if it is correct then click ‘confirm’ button to approve the record.

On successful approval of the record, system will generate and display a unique Security Interest

ID and Asset ID for that particular asset.

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Modification of Security Interest

When changes are needed to done in loan amount, date of disbursement in existing asset or new

loan is to be added to same asset or an already tagged loan is to be deleted from an Asset ID, it is

treated as ‘Modification of Charge’.

Users authorised to enter data into CERSAI system, are provided with additional link of data

modification.

Only the entity which has created the record is allowed to modify it in Central Registry system.

For this the Users are required to navigate to the ‘Modification of Security Interest’ link.

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Enter security interest ID to which modification is required.

Select the area of modification :–

- Modify existing loan

- Add new loan

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Modify Existing Loan

While modify existing loan/s, system will display the details of existing loan/s. User can change

security interest creation date, loan amount & date of disbursement. Click on “submit” button after

making the necessary/relevant modifications.

Add New Loan

User can add new loans to existing security interest only through modification menu. While

Modifying a security interest the details of all the loans tagged to that Asset ID are displayed. User

can also delete already added loans and click on “submit” button.

After successful submission of request by maker member user, system will display the

"Modification Successful' message & the record will be sent to checker’s queue.

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Checker member user to login into CERSAI system with his/her Digital Signature, then click

‘checker FYA ‘ link & after entering Maker user ID, select type of transaction as ‘Modification of

Security Interest’

System will display the list of security interest IDs which have been modified by that maker

member user. Select the appropriate record & click on ‘Show Details’ button.

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Click on Confirm / Reject button to approve or reject the transaction.

Satisfaction of Security Interest

On payment or satisfaction in full of any security interest a Lending Entity is required to satisfy its

security interest in Central Registry System by using 'Satisfaction of Security Interest' module.

E.g If a mortgage is created for Rs.50 lakhs & subsequently the borrower repays principal &

interest thereon in full, it is mandatory for bank to mark that security interest as satisfied in

Central Registry system. It conveys that the there is no record of pending security interest in the

Central Registry System on that particular asset.

A user can see the basic details of asset for which security interest is being satisfied by keying in

the Security Interest ID. When there are more than one charge holders for a particular asset, any

of the charge holders can satisfy only the security interest created by it in the system. That means,

one entity cannot satisfy other entity’s security interest in the system. Upon satisfaction of security

interest by all the entities, system will update security interest satisfaction status of that particular

asset to ‘satisfied’.

To file for 'Satisfaction' a Maker member user needs to navigate to the ‘Satisfaction of Security

Interest’ link

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Enter Security Interest ID.

If Security Interest ID is being processed by some other user or is pending for processing with

some other user, system will not allow satisfaction of that particular Security Interest.

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System will display basic details of security interest.

Following details can be expanded & seen:

Description of Property

Borrower Information

Third Party Information

Entity(s) Holding a Security interest on the Financial Asset

Loan Information

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Enter date of satisfaction. This date should be greater than or equal to security interest creation

date.

Select reason for satisfaction from the drop down list.

Click on ‘Submit’ button.

Once a charge is satisfied, the process is irrevocable i.e. once a charged is marked as ‘Satisfied’, the

user cannot revert its status to ‘Unsatisfied’ in the system. In cases of erroneous satisfaction of a

Security Interest, the user will have to create a new charge against the asset the Security Interest of

which was wrongly satisfied earlier.

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After successful submission of request by maker member user, system will display the successful

message & the record will be sent to checker’s queue.

Checker User to login into CERSAI system with his/her Digital Signature, then navigate to

‘Checker FYA ‘ link & Enter Maker user ID, select type of transaction as “Satisfaction Of Security

Interest” System will display the list of Security Interest IDs that are queued up for filing

satisfaction.

Select the appropriate Security Interest ID & click on ‘Show Details’ button.

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Checker user to verify the correctness and veracity of the details & if found in order click ‘confirm’

button to approve the record. Once a record is successfully approved, a system generated email

notification is sent to the checker user who has approved the record.

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