Page 35 - Banking Finance February 2021

ARTICLE

O Sift
O V sign, etc.
Y Any existing User with valid Digital Signature (DS) of any
Class will be able to access CERSAI 2.0.
o System will not enforce digital signature for
following roles, of existing users.
O Asset based search
O Debtor based search

O Assignment of Receivable (AOR) search
O Online Reports
O MIS Reports
O Revenue Management System (RMS) Reports
recovery of Government dues are required to be filed
with CERSAI. O Batch Reports
4. Attachment orders issued in favour of any person, by o Public search for Asset, Debtor and AOR search is
Courts/ Tribunals are required to be filed with CERSAI. available on the home page/ pre login page (Digital
Signature not required).
5. Secured Creditors shall be entitled to enforce securities
under SARFAESI Act only if the security interest is filed Y Existing users, after expiry of their current Digital
with CERSAI. Signature, as well as New Users registered in CERSAI
2.0 will, necessarily, have to procure Class III DS.
6. Filing of Security interest or attachment orders with
CERSAI shall have priority over any subsequent security Y A link to reset the password sent to the existing users
interest created upon such property. on their registered email id before 20.07.2020.
7. After registration of security interest with CERSAI by Y Users will be required to reset the password to access
secured creditors, their dues will be paid in priority over the New Portal.
Government dues. Y No Maker - Checker concept in CERSAI 2.0. Any one,
8. A penalty provision for default in filing, modifying and authorised user, will be able to perform end to end
satisfaction of security interest (section 27) is no longer transaction.
applicable. Y Single user, multiple roles - More than one roles may
9. 30 - Day time period for filing the transactions of be assigned to one user.
creation/ modification of security interest with CERSAI Y Flexibility in Assignment of Roles - It is possible to add/
(section 23) is no longer applicable. remove role(s) to an existing user ID.
2. Short Messaging Service (SMS) (New Feature)
CERSAI is now migrating to version 2.0, wherein it has
introduced some important changes and new features to Y Apart from the email notifications, an SMS will also be
serve better. Below are the salient features listed; in sent to the concerned users of the Entities and CERSAI
upgraded version of Security Interest Portal i.e. CERSAI 2.0 on their registered mobile number, which has been
made mandatory in CERSAI 2.0.
1. User Access and Roles
Y Access to CERSAI 2.0 application will require a valid Y It is understood that SMS will be delivered and seen
Digital Signature. immediately, thereby speeding up the notification and
o Users have to procure Class III signing Digital decision making process.
Signature from any of the below listed issuing 3. Offline Functionality (New Feature)
authority, like Y Presently available for Add Security Interest
O E - Mudra Transactions.
O Capricon Y Details of the transactions will be recorded in an excel

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