CERSAI registration

KIRAN SITARAM DARWATKAR (Querist) 24 January 2017 This query is : Resolved
A banker has sanctioned CC loan and taken a flat as collareral security.Created security interest by equitable mortgage.NI is done but limit is not released due to some formalities.
Then can a Bank register the chargr withCERSAi ?

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H.M.Patnaik (Expert) 24 January 2017
Mr. Kiran are you the borrower yourself or promoter of any business entity which availed the Cash credit facility from the bank? As per loan as per terms of sanction of advance, any banker would register the equitable mortgage with the local SRO in presence of the borrower.

Ms.Usha Kapoor (Expert) 25 January 2017
The author must answer Mr.Patnaik's questions.

KIRAN SITARAM DARWATKAR (Querist) 25 January 2017
I am a Banker. One of my Banker friend has gone theough this situation. The CC loan is aproved to borrower.Accordingly the Equatable martage and all legal documents are executed but some firmalities are pending.Now CERSAi has to be reg.within one month of execution of eq.mortgage.In this case limit is given to the borrower but he has not withdrawn any amt.
So can we register the charge on security with CERSAI?

Guest (Expert) 25 January 2017
Just inform the Borrower by Registered/Speed Post or if he is in Mail about the CERSAI registration and Proceed with that.It is not advisable to delay that even after 30 days and then you have to apply for permission to do that.

Guest (Expert) 25 January 2017
Once the Loan had been Transferred to Borrower's account it would be his responsibility and whether he Uses it or withdraws it Or not Need not Be Banker's Concern.

Adv. Yogen Kakade (Expert) 25 January 2017
I agree with Mr. Rajkumar.

Rajendra K Goyal (Expert) 30 January 2017
If you are a Banker, refer the matter you your law section and get instructions. May get and enclose opinion from Bank panel lawyer while referring the matter to your controller.

Guest (Expert) 30 January 2017
So obviously the above Child/ Anonymous which has No Profile about Him /Her self indirectly Confirms it is Illiterate/Ignorant with No Answer.

Rajendra K Goyal (Expert) 30 January 2017
Some experts are expert in commenting on other experts.
I do not like any comment on other experts, if I differ any point I do so with proper respect and honor

H.M.Patnaik (Expert) 30 January 2017
Since Jan.,2016 CERSAI regn. has become mandatory in case of all types of bank loans.So, as suggested by Expert Mr Rajkumar, You are to take immediate step for complying with the formality in this regard.

Guest (Expert) 30 January 2017
Obviously any Child would require a Good Master/Teacher with out which the Child would be involving in illegal activities when it is Major.Child also should carry its ID and Post its details in her/his Profile instead of proceeding as Anonymous with No Details of its in its Profile.Even Dacoits Train the child for their business and it becomes a Master when grown.So the Child should be Corrected in its young age.