I have the following Questions regarding Registration of Mortgage by Bank with Central Registry constituted under SARFAESI Act, 2002.
1. Is it compulsory for a Co-operative Bank to register details of properties mortgaged with it on or after 31st March, 2011 with the above authority?
2. The said rules contain provision for condoning delay up to 30 days in registration of the mortgage. What if the delay is beyond 30 days? Is there any procedure to register details of mortgages after 60 days (30 days' time limit + 30 days' condonation)?
3. What if there is no provision enabling filing of details after 30 days?
Kindly reply ASAP and thaking in advance