TERMS AND CONDITIONS FOR INSPECTION OF RECORDS CONTAINED

IN CENTRAL REGISTER

This document lays out the terms and conditions, as may be amended and supplemented,
from time to time, (“Terms”) which shall be applicable for undertaking inspection of records in
the Central Register in terms of Section 26 of the Securitization and Reconstruction of Financial
Assets and Enforcement of Security Interest Act, 2002 („SARFAESI Act‟) read with the
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest
(Central Registry) Rules, 2011 („Rules‟).

The words, “I”, “We”, “us”, “me”, “my”, “myself” and “customer” refer to the Person(s)
who request for an online inspection of records of Central Register and seek a search report.
Reference to the masculine gender shall include the feminine and neutral gender or any other
legal entity.

Following are the Terms which I acknowledge and agree with:

1. GENERAL

1.1 I/ We have read, understood and agree to abide by these Terms including any changes
thereto made by CERSAI in its sole discretion, from time to time, relating to the
inspection of records contained in the Central Register maintained by Central Registry of
Securitisation Asset Reconstruction and Security Interest of India (CERSAI), which
changes shall be as communicated and made available on the website of CERSAI. I/ We
agree that these Terms form a valid contract between myself / ourselves and CERSAI,
and that CERSAI may, at its sole discretion, amend these Terms, either wholly or
partially, at any time in the manner stated above and without the requirement of any prior
notice or consent to us/me.

1.2 I/ We agree that these Terms constitute the entire agreement between myself/ ourselves
and CERSAI with respect to the Inspection of records contained in the Central Register
and these terms supersede all prior or contemporaneous communications and proposals, if
any, whether electronic, oral, or written, between me/ us and CERSAI with respect to the
inspection of the Central Register. A printed version of these Terms and of any notice
given in electronic form shall be valid and admissible in judicial or administrative
proceedings based upon or relating to these Terms to the same extent and subject to the
same conditions as any other documents and records originally generated and maintained
in printed form.

1.3 I/ We agree and understand that any and all information contained in the Central Register
and contained in the search report has been collated by CERSAI based on the

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 data/information furnished by banks / FIs pursuant to Section 23 of the SARFAESI Act,
2002. Consequently, CERSAI shall not be responsible for the accuracy, completeness,
and veracity of any and all such information as provided. I/ We also understand that the
information is current and up to date to such extent as provided by the Secured Creditors
(the term shall have the meaning ascribed to it under the SARFAESI Act) and is subject
to changes and amendments made thereafter and that any information contained herein
does not reflect the views of CERSAI or its directors or employees. Also, CERSAI shall
incur no liability and shall not be required to indemnify me/ us for any loss, damages,
claims or expenses incurred by me/ us for any incorrect reports provided due to incorrect
information and/ or documents provided by me/ us or by the Secured Creditors or if for
any technical reason, any incorrect report is provided otherwise.

1.4 The data contained in the Central Register and the search reports shall be updated up to
such dates on which the Secured Creditor(s) has provided information to CERSAI and
CERSAI shall not be responsible in the event any data relating to Security Interest (the
term shall have the meaning assigned to it under the SARFAESI Act, 2002) is not
updated by the Secured Creditor(s).

1.5 I / We understand and agree that CERSAI shall not be required to seek prior permission
from me / us for updating/modifying information that may be reported to CERSAI by the
Secured Creditors subsequent to my our/my inspection of Central Register and/or the
generation of a search report in respect of any immovable property nor to update us / me
about the status of the immovable property nor for any modification made by the Secured
Creditors in respect of the Security Interest registered with CERSAI by the Secured
Creditor.

1.6 I/ We have read in full and have completely understood the steps to access the Central
Register through the internet on the website of CERSAI.

1.7 I/ We understand that the access to the Central Register for undertaking an inspection and
generation of search report shall be provided by CERSAI only on the submission by me/
us the required information as prescribed by CERSAI.

1.8 I/ We agree that all information regarding the identity proof provided by me/ us for
accessing the Central Register is true and correct.

1.9 I/We agree that all the pop up / alert messages displayed on the computer/tablet/mobile
devise screen while undertaking the search / inspection of the Central Register shall be
read and treated as integral part of this Terms.

1.9 Due to furnishing of wrong or incomplete information provided by me/ us, the search
report generated may contain property particulars which may not be the one which I/We
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 have sought. In such cases, I / We understand that CERSAI shall not be liable to refund
any payments made by me/ us in this regard and that I/ we shall have to submit a fresh
search/inspection request and make fresh payment for undertaking a fresh inspection and
search report if required.

2. CHARGES

2.1 The charges / fees for undertaking the inspection of records of Central Register is
prescribed under Securitisation and Reconstruction of Financial Assets and Enforcement
of Security Interest (Central Registry) Rules, 2011 and I/we agree to pay the same.

2.2 I/ We acknowledge and agree that the charges as specified above are the cost of an
inspection of Central Register and generation of search report which is all inclusive of
payment gateway charges and taxes and other duties which shall be payable by me/ us, as
applicable and prescribed by CERSAI. Further, I / We acknowledge, understand, and
agree, that in the event of the system displaying / furnishing multiple properties against
the search criterion fed by us / me in the system, I/we understand that I/we are entitled to
view the full description of only one property and generate the search report as against
the said property. We / I further understand and agree that in case I/we would require
details (including the search report) of any other of those property generated by the
System against the search criterion originally fed by me/us, then I / we would be liable to
pay prescribed fee separately for each such property/search report.

2.3 I/ We understand that the payment gateway and net-banking channels may not belong to
CERSAI and agree to abide by the rules and regulations and terms prescribed by such
third party in the process of facilitating my/ our payment through the said payment
gateway and net-banking channels.

2.4 I/ we understand that there may be instances when “Nil” Report, is generated because the
details of the immovable property does not exist in CERSAI‟s database or the details
provided by me/ us were not adequate to access the relevant immovable property. In such
cases, a “Nil” report will be generated by CERSAI and provided to me/ us. I/ We
understand that a „Nil Report may not provide any information. I/ We understand and
accept that no payments made by me/ us shall be refunded and returned by CERSAI for a
„Nil‟ Report being provided.

2.5 I/ We understand that unless complete and full payment along with submission of the
required particulars is made by me/ us, CERSAI shall not be obliged to process or issue
any search report to me/ us or permit to undertake an inspection of Central Register.

3. PAYMENT MODES

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3.1 Payment through Credit Cards/ Debit Cards:
I / We understand that any payment for undertaking a Search in the Central Register may
be made through my/ our VISA or MASTERCARD or other service provider (as
provided by the Payment Gateway Merchant) Credit Card or Debit Card as the case may
be.

Terms for payment:

I/We agree to pay such amount as stipulated by CERSAI for undertaking a search in
the Central Register and issue of search report and understand that these charges are
towards fees for undertaking Inspection of records of Central Register and payment
gateway charges, search report and other taxes (if any).

Payment through Credit/ Debit Card

(a) I/ We represent that the Credit Card or Debit Card used by me/ us to make payment
herein, is my / our own Credit Card or Debit Card or I/ we have full authority and
permission to use the same to make payment herein.
(b) In the event there is any error in payment of the amount through this mode, the
relevant request for inspection of Central Register and generation of search report
shall not be processed.
(c) In the event payment is made more than once for the same transaction, I/ we
understand that I/ we am required to email CERSAI at helpdesk@cersai.org.in or
call CERSAI at +9111- 2617 6847, 2617 6855, 2617 6856 or such other number as
CERSAI may intimate on its website from time to time and inform CERSAI of the
same within seven working days. Upon request by CERSAI, I/ we shall provide the
relevant reference number from the issuing bank or financial institution of the Credit
Card/ Debit Card in order to reverse such duplicate payment. I/ We understand such
reversals shall be made to the same Credit Card/ Debit Card from which payment was
made and that CERSAI shall make its best endeavour to credit the refund within 4
(four) working days of receipt of request for reversal.
(d) I/ We will receive a system generated CERSAI Reference Number and a Transaction
number for each transaction that I/ we pursue through this mode with CERSAI on this
website, and I/ we shall quote such CERSAI Reference Number and/or a Transaction
number for all subsequent queries and clarifications that I/ we may seek from
CERSAI relating to the same transaction.
(e) CERSAI shall not be liable in any manner whatsoever for any fraud that may be
committed on my Credit Card/ Debit Card, whether due to loss or theft or otherwise.
(f) The technology for enabling the payment by way of Credit Card/ Debit Card could be
affected by virus or other malicious, destructive or corrupting code, programme or
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 macro. This could result in delay or failure in the processing of instructions. CERSAI
shall not be liable, whether directly or indirectly, whether arising out of loss or profit
or otherwise arising out of any failure or inability by the relevant bank or financial
institution to honour any customer instruction for whatsoever reason.
(g) CERSAI shall not be responsible for any other charges which may be levied by VISA
/ MasterCard or any other credit / debit card issuing agency for using the same for
making the payment to CERSAI for undertaking an inspection of the Central Register
and generation of search report.

3.2 Payment through Net Banking:

I / We understand that a payment of the stipulated charges for inspection of the Central
Register and generation of search report may be made through my/our Net Banking
channel.

Terms for payment:

(a) I/ We understand that the Net Banking channel is available only if I/ we have an
online banking account with my/ our bank or financial institution from where the said
amount will be directly debited from my/ our account with my/ our instructions
online and such facility is available only if I/ we hold an account with the bank(s) as
maybe provided by payment getaway merchant and / or CERSAI, from time to time.
(b) I/We agree to pay such amount as stipulated by CERSAI and understand that these
charges are towards fees for undertaking search in the Central Register and issuance
of search report and payment gateway charges and other taxes if any.
(c) I/ We shall use only my/ our own net-banking account details to transact on this
website or have full authority and permission to use the net-banking account to make
payment as required herein.
(d) In the event payment is made more than once for the same transaction, I/ we
understand I/ we am required to email CERSAI at helpdesk@cersai.org.in or call
CERSAI at +9111- 2617 6847, 2617 6855, 2617 6856 or such other number as
CERSAI may intimate on its website from time to time and inform CERSAI of the
same within seven working days. Upon request by CERSAI, I/ we shall provide the
relevant reference number from the bank or financial institution providing such net
banking services in order to reverse such duplicate payment. All such reversals shall
be made to the same account from which payment was made and that CERSAI shall
make its best endeavour to credit the refund within 4 (four) working days of receipt of
request for reversal.
(e) I/ We will receive a system generated CERSAI Reference Number and a Transaction
number for each transaction that I/ we pursue through this mode with CERSAI on this
website, and I/ we shall quote such CERSAI Reference Number and/or a Transaction

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 number for all subsequent queries and clarifications that I/ we may seek from
CERSAI relating to the same transaction.
(f) CERSAI shall not be liable in any manner whatsoever for any fraud that may be
committed on my/ our net banking account, whether due to loss or theft of credentials
or otherwise.
(g) The technology for enabling the payment by way of net banking could be affected by
virus or other malicious, destructive or corrupting code, programme or macro. This
could result in delay or failure in the processing of instructions. CERSAI shall not be
liable, whether directly or indirectly, whether arising out of loss or profit or otherwise
arising out of any failure or inability by the relevant bank or financial institution to
honour any customer instruction for whatsoever reason.
(h) CERSAI shall not be responsible for any other charges which may be levied by the
Bank/VISA / MasterCard or any other credit / debit card issuing agency for using the
same for making the payment to CERSAI for undertaking an inspection of the Central
Register and generation of search report

4. REFUNDS AND CHARGE BACK

CERSAI shall refund the payments made by me/ us after deducting the relevant
processing charges as may be required by CERSAI, in its sole discretion, from time to
time in the event of any technical snag between my/ our computer and/or CERSAI and/or
the issuing bank wherein my/ our transaction did not complete or whereby I/ we was/
were charged twice for a single transaction (duplicate processing). Only for the above
reasons and any other reasons decided by CERSAI at its sole discretion refund and
charge back request will be entertained.

5. DISCLAIMER OF WARRANTIES AND LIMITATION OF LIABILITY

5.1 I/ We acknowledge, understand and agree that by providing the facility of undertaking a
search in the Central Register (through their website or otherwise), CERSAI is acting as a
facilitator. I / We also understand and agree that CERSAI does not warrant that the
functions contained in its website will be uninterrupted or error free, that defects will be
corrected, or that this site or the servers that make it available are free of viruses or other
harmful components, but shall endeavour to ensure fullest satisfaction of the user.

5.2 I/ We acknowledge, understand and agree that in no event shall CERSAI be liable for any
direct, indirect, punitive, incidental, special, consequential damages or any other damages
resulting from: (a) the use or the inability to use the search reports; (b) unauthorized
access to or alteration of transmissions or data; (c) any other matter relating to the search
reports arising out of or in any way connected with the use or performance of the website,
or otherwise.

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5.3 I/ We agree that I/ we shall not hold CERSAI liable or responsible for non-availability of
its website either due to internet connectivity speed or errors on my/ our computer or
during periodic maintenance operations or any unplanned suspension of access to the
website that may occur due to technical reasons or for any reason beyond the control of
CERSAI. I/ we understand and agree that any material and/or data downloaded or
otherwise obtained through this website is done entirely at my/ our own discretion and
risk and I/ we will be solely responsible for any damage to my/ our computer system(s) or
loss of data that results from the download of such material and/or data.

5.4 I / We understand and agree that the details of the immovable property in the search
report is on “as is basis” which are fed in the Central Register by the respective Banks/FIs
pursuant to Section 23 of the SARFAESI Act. CERSAI makes no warranties, expressed
or implied, and hereby disclaims and negates all warranties, including without limitation,
implied warranties or conditions of merchantability, title, encumbrance of the said
property. Further, CERSAI does not warrant or make any representations concerning the
accuracy, reliability of the data. I / We agree that that in case of any discrepancy /
irregularity in the property description or the details of the Secured Creditor in the search
report, we/I shall take up the matter with the relevant Secured Creditor whose name is
reflected in the search report to rectify the discrepancy / irregularity. I / We are aware that
CERSAI or its officials do not have any authority to modify the data in the Central
Register other than recording the satisfaction of security interest as per section 25 (2) of
the SARFAESI Act. I / We further understand and agree that the maximum liability of
CERSAI shall be limited and restricted to the amount of fees paid by me/us for
undertaking the inspection in the Central Registrar.

6. MISCELLANEOUS

(i) Severability

In the event that any provision of these Terms is declared by any juridical or other
competent authority to be void, voidable, illegal or otherwise unenforceable or
indications of the same are received by either me/ us or CERSAI from any relevant
competent authority, CERSAI shall have the right to amend that provision in such
reasonable manner as it thinks fit without illegality or it may be severed from this
Agreement in such manner as CERSAI thinks fit and the remaining provisions of these
Terms shall remain in full force and effect unless CERSAI decides otherwise in its sole
discretion.

(ii) Variation

In furtherance of these Terms and subject to applicable laws, I/ we understand that

CERSAI reserves the right to issue further directions which shall be applicable to me/ us
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 from time to time. Other than as otherwise provided by these Terms, all alterations to
these Terms shall be made by CERSAI with an intimation on its website and shall
become applicable upon such intimation, and without the requirement of any prior notice
or intimation to any person of such variation. I/ We agree to accept any such variation
made by CERSAI in this regard, regardless of the mode through which I/ we have
approached CERSAI.

(iii) Indemnification

I/ We agree to and shall indemnify CERSAI from and against all losses and damages that
may be caused as a consequence of breach of any of these Terms.

(iv) Force Majeure

CERSAI shall not be liable for any failure to perform any of its obligations under these
Terms or provide the search reports or if the performance is prevented, hindered or
delayed by a Force Majeure Event (defined below) and in such case its obligations shall
be suspended for so long as the Force Majeure Event continues.

For the purpose of this clause the term “Force Majeure Event” means any event due to
any cause beyond the reasonable control of CERSAI, including, without limitation,
unavailability of any communication system, breach or virus in the systems, fire, flood,
explosion, acts of God, civil commotion, riots, insurrection, war, acts of government,
terrorist attack etc

(v) General

I/ We hereby confer CERSAI with the right to use any data and information provided by
us while a request is made for inspection of the Central Register in any manner including
for any purpose stipulated by CERSAI, provided that the same shall be valid under
applicable law.

I/We understand that by providing my mobile number and email id, I/ we have assented
to receive transactional SMS(es) / emails alerts, if any. I / We are aware that currently
this feature is not operationalized by CERSAI.

7. GOVERNING LAW, JURISDICTION AND ARBITRATION

The Terms contained herein are governed by and are subject to Indian laws. In the event
of any claim, dispute or difference arising out of or in relation to these Terms, the claim,
dispute or difference shall be referred to arbitration to be conducted by a sole arbitrator to
be appointed by CERSAI who shall be the presiding arbitrator and the decisions and
award of the arbitral tribunal shall be final and binding. The arbitration proceedings shall
be held only in New Delhi and shall be conducted in the English language and be
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governed by the provisions of Arbitration and Conciliation Act, 1996 and any
modification or re-enactment thereof in force at the relevant time. All costs of such
arbitration shall be borne by the person who initiates the arbitration proceedings. Subject
to what is stated above, any matters which may require the intervention or any
determination by a Court, including any appointment of any arbitrators under Section 11
of the Arbitration and Conciliation Act, 1996, whether prior to, or during or after the
aforesaid arbitration, shall be subject to the exclusive jurisdiction of the Courts in New
Delhi.