Home  /  Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002  /  Section 22

Section 22: Register of securitisation, asset reconstruction and creation of security interest transactions

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

Statutory Regulation
Legal Standard
Competent Court / Tribunal
Act 2002
Section 21 All 42 Sections of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002 Section 23

Legal Commentary & Landmark Judgments: Section 22

Section 22 of the SARFAESI Act, 2002 mandates the maintenance of the electronic register of securitisation, asset reconstruction, and security interest transactions by the Central Registry and establishes its public inspection and evidentiary status.

  • Comprehensive Electronic Register: Maintenance of a centralized electronic record of all securitisation, asset reconstruction, and creation, modification, or satisfaction of security interests.
  • Public Inspection & Constructive Notice: The electronic register is open for public inspection on payment of prescribed fees, serving as constructive notice to the entire world.
  • Evidentiary Primacy: Certified digital extracts from the CERSAI database constitute admissible prima facie evidence of registered encumbrances.
Key Landmark Precedents:
  • Punjab National Bank v. Union of India (2022) 7 SCC 260: The Supreme Court held that registration of security interest on the Central Registry under Section 22 r/w Section 26E gives the secured creditor absolute priority over all other debts, including state taxes, revenues, and crown debts.
  • Indian Bank v. Sub-Registrar, 2020 SCC OnLine Mad 1243: The Madras High Court held that CERSAI electronic records under Section 22 operate as constructive notice; subsequent purchasers cannot claim protection as bona fide purchasers without notice.
Courtroom Practice & Strategic Litigation Guidance:

In auction litigation and third-party title disputes, tender the CERSAI Search Report (Section 22) into evidence to successfully rebut any plea of 'bona fide purchaser without notice' raised under Section 19 of the Specific Relief Act or Section 53A of TPA.

Section 21 All 42 Sections of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002 Section 23