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Sec 23, SARFAESI Act 2002: Filing Of Transactions Of Securitisation

Section 23 (Filing of transactions of securitisation, reconstruction and creation of security interest) under Chapter IV (Central Registry) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 —

(1) The particulars of every transaction of securitisation, asset reconstruction or creation of security interest shall be filed, with the Central Registrar in the manner and on payment of such fee as may be prescribed :


 Provided that the Central Government may, by notification, require registration of all transactions of securitisation, or asset reconstruction or creation of security interest which are subsisting on or before the date of establishment of the Central Registry under sub-section (7) of section 20 within such period and on payment of such fees as may be prescribed.

(2) The Central Government may, by notification, require the registration of transaction relating to different types of security interest created on different kinds of property with the Central Registry. 

(3) The Central Government may, by rules, prescribe forms for registration for different types of security interest under this section and fee to be charged for such registration.





Extra Notes for Readers

(1) Section 23 of SARFAESI Act, 2002 was modified by the Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Act, 2012 (Act 1 of 2013), sec. 8, (w.e.f. 15-Jan-2013).

(2) Section 23 of SARFAESI Act, 2002 was modified by the Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Act, 2016 (Act 44 of 2016), sec. 17, (w.e.f. 1-Sep-2016).

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