Answer : Section 22(1) of Sarfaesi Act, 2002 provides that a record called the Central Register shall be kept at the head office of the Central Registry for entering the particulars of the transactions relating to- securitisation of financial assets; reconstruction of financial assets; and creation of security interest.

Answer: Section 24 of Sarfaesi Act, 2002 provides that whenever the terms and conditions of any security interest is modified, it shall be the duty of the secured creditor to send to the Central Registrar, the particulars of such modification.

Answer : Section 25(1) of Sarfaesi Act, 2002 provides that whenever the secured creditor including Asset Reconstruction Company receives payment or satisfaction in full of any secured interest, the secured creditor shall give intimation of such payment or satisfaction to the Central Registrar within thirty days from the date of such payment or satisfaction.

Answer : Section 26C(1) of Sarfaesi Act, 2002 provides that the registration of transactions of creation, modification, or satisfaction of security interest or filing of attachment orders by a secured creditor with the Central Registrar shall be deemed to constitute a public notice from the date and time of filing of particulars of such transaction with the Central Registry for creation, modification or satisfaction of such security interest or attachment order, as the case may be. 

Section 26C(2) of Sarfaesi Act, 2002 provides that upon the registration of security interest or attachment order upon any property in favour of secured creditor or any other creditor, the claim of such secured creditor or other creditor holding attachment order shall have priority over any subsequent security interest created upon such property or any transfer by way of sale, lease or assignment or licence of such property or attachment order subsequent to such registration shall be subject to the claim covered by such registration.

Answer : Section 26D of Sarfaesi Act, 2002 provides that no secured creditor shall be entitled to take any steps and measures under the Sarfaesi Act, 2002 unless the security interest created in its favour by the borrower has been registered with the Central Registry

Answer : Section 26E of Sarfaesi Act, 2002 provides that after the registration of security interest, the debts due to any secured creditor shall be paid in priority over all other debts and all revenues, taxes, cesses and other rates payable to the Central Government of State Government or local authority.