Cersai Charge Registration

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  • 1. CERSAI CHARGE FILING SERVICESFORBANKS /FINANCIAL INSTITUTIONSBY CompaniesInn.com LLP # 463, 10th Main | 13th Cross | Wilson Garden |Bangalore—560 027 Tel +91 80 4219 4109 E-Mail : info@companiesinn.com Web : www.companiesinn.com
  • 2. Introduction - CERSAICentral Registry of Securitisation Asset Reconstruction and Security Interest of India(CERSAI – www.cersai.org.in) is a company licensed under section 25 of theCompanies Act, 1956 and registered by the Registrar of Companies, New Delhi.The Company is a Government Company with a shareholding of 51% by the CentralGovernment and select Public Sector Banks and the National Housing Bank are alsoshareholders of the Company.The object of the company is to maintain and operate a Registration System for thepurpose of registration of transactions of securitisation, asset reconstruction offinancial assets and creation of security interest over property, as contemplatedunder Chapter IV of the Securitisation and Reconstruction of Financial Assets andEnforcement of Security Interest Act, 2002. (SARFAESI Act).The Registration would be applicable to transactions of security interest overproperty created to secure loans and advances from the banks and financialinstitutions as defined under the SARFAESI Act.The Company is providing the platform for filing registrations of transactions ofsecuritisation, asset reconstruction and security interest by the banks and financialinstitutions.Any person can also search and inspect the records maintained by the Registry onpayment of fees prescribed under the Securitisation and Reconstruction of FinancialAssets and Enforcement of Security Interest (Central Registry) Rules, 2011.
  • 3. CERSAI Charge Registration ProcessA. FORMS FOR FILING FORM I For Creation and modification of Charge. FORM II For particulars of Satisfaction of Charge FORM III For Securitisation or Reconstruction of Financial Assets FORM IV For Satisfaction of Securitisation or Reconstruction of Financial AssetsB. FILING SYSTEM Serial Nature of transaction to be FORM No. Amount of fee payable Number Registered Rs.500 for creation and for any subsequent modification of Security interest in favour Particulars of creation or of a secured creditor for a modification of Security 1. FORM I loan above Rs.5 lakh. For a Interest in favour of secured loan below Rs.5 lakh, the fee creditors would be Rs.250 for both creation and modification of security interest. Satisfaction of any existing 2. FORM II Rs.250 Security Interest Particulars of securitisation 3. or reconstruction of financial FORM III Rs.1000 assets Particulars of satisfaction of 4. securitisation or FORM IV Rs.250 reconstruction transactions Any application for information recorded / 5. --- Rs.50 maintained in the Register by any person Rs.2500 in case of creation of Any application for security interest for a loan 6. condonation of delay up to --- up to Rs.5 lakh and Rs.5000 30 days in all other cases.
  • 4. CERSAI Charge Registration Process – CompaniesInnA. ROAD MAP OF COMPANIESINN CHARGE MANAGEMENT SERVICES EM Information & BANK BRANCH Document details CompaniesInn.com Prepare Form I, II File with CERSAI Or IIIB. PROCESS FOR FILING • A certified copy of Charge Documents (Creation / Modification / Satisfaction) to be forwarded to COMPANIESINN, Bangalore Office by Courier. Or, • Where the Bank Branch has the scanning facility, email the Charge Documents in PDF format • Up on receipt of Charge Documents, COMPANIESINN will prepare e-Form I/II/III • COMPANIESINN will file the Form online with CERSAI in time
  • 5. About COMPANIESINNCompaniesInn.com LLP (CompaniesInn), formerly known as Companiesinn.comIndia Private Limited is promoted by a team of Company Secretaries fromBangalore. Now, CompamiesInn has presence in Bangalore, Delhi, Mumbai andChennai.CompaniesInn (www.companiesinn.com) provide comprehensive CorporateSecretarial Services including business start-up services and Compliance Services,Charge Management Services excellent infrastructure in the fast changing age ofinformation technology.The promoters of COMPANIESINN have a track record of more than 12 years ofproviding Charge Management Services such as Registration of Charges,Modifications and Satisfaction thereof to Banks and Financial Institutions.CompaniesInn provides a comprehensive package of services to the Banks andfinancial Institutions by way of Search and Status Reports, Corporate InformationReports, Scrutiny of Charge records etc.In 2006, the promoters of CompaniesInn were appointed as the sole service providerfor the Charge Management Services by ING VYSYA BANK LIMITED for all theirbranches across India. From 2008 the service to ING Vysya is being provided fromCompaniesInn.Advantages of COMPANIESINN Charge Management Services. • Timely filing and registration of Charges • Frees the Bank Manager and ensures compliance • Easy filing of Forms with CompaniesInn infrastructure and network • Single Point of contact for all the branches of the Bank for Registration of Charges • Professional & Cost effective service by CompaniesInn • Prompt and timely e-communication with Bank about progress of registration
  • 6. • Makes the Bank Manager e-savvy • Guidance to Bank officials about the process of CERSAI • One stop shop for the bank for all services under CERSAI • We at COMPANIESINN are committed to provide quality and timely service to BANK and your clients with our ‘Charge Management Services’.COMPANIESINN FEE QUOTE - CERSAI Charge RegistrationDOCUMENT FILING SERVICES Services Fee Per Document (INR) Documentation / Filing / registration of Form 1100.00 I/II/III Note: • Service Tax will be extra. • Out of Pocket expenses such as Filing fee / Incidental expenses will be charged on actual basis Contact: CompaniesInn.com LLP # 463, 10th Main | 13th Cross | Wilson Garden| Bangalore—560 027 Tel +91 80 4219 4109 Mobile : +91 99457 54280 E-Mail: binoy@companiesinn.com Web: www.companiesinn.com