All about CERSAI

As mentioned earlier, CERSAI is a central agency that maintains records of equitable mortgages with all banks. This makes taking a second loan against the same property impossible. All EM information is made public so that banks and individuals can check

Why This Act?

Many unscrupulous people were duping individual banks by re-mortgaging the same property, using forged documents and showing these as original documents. This caused loss to the banks when they filed cases in courts/debt recovery tribunals due to non-payment of loans taken against properties under EM.