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Section 21: Central Registrar appointment

Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002 • Official Statutory Text & Practice Guide

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Act 2002
Section 20 All 42 Sections of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002 Section 22

Legal Commentary & Landmark Judgments: Section 21

Section 21 of the SARFAESI Act, 2002 provides for the appointment of the Central Registrar and officers by the Central Government to superintend, maintain, and administer the electronic operations of the Central Registry.

  • Appointment of Central Registrar: The Central Government appoints a Central Registrar and other officers to administer and superintend the Central Registry.
  • General Superintendence and Control: The Central Registrar operates under the general superintendence, direction, and regulatory guidelines of the Central Government.
  • Authentication of Electronic Records: Authorizes the Central Registrar to certify search reports and electronic extracts of registered transactions as admissible public records.
Key Landmark Precedents:
  • Pegasus Assets Reconstruction P. Ltd. v. Haryana Concast Ltd. (2016) 4 SCC 47: The Supreme Court affirmed the administrative and statutory framework created by Parliament under SARFAESI, noting that designated statutory officers operate under delegated sovereign authority.
  • Punjab National Bank v. Union of India (2022) 7 SCC 260: A 3-Judge Bench emphasized the official evidentiary authenticity of Central Registrar certificates in resolving priority contests against statutory revenue claims under Chapter IV.
Courtroom Practice & Strategic Litigation Guidance:

In inter-creditor disputes involving CERSAI certificate authenticity or registration date discrepancies, obtain a certified electronic extract bearing the digital signature of the Central Registrar under Section 21 r/w Section 22.

Section 20 All 42 Sections of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002 Section 22