Why is mandatory registration with CERSAI (Central Registry of Securitisation Asset Reconstruction and Security Interest) critical when a bank creates an Equitable Mortgage?

Since an equitable mortgage traditionally involves only a deposit of title deeds without mandatory local land registry entries in some states, borrowers could historically misuse duplicate title papers to take multiple loans. Filing the charge with CERSAI creates a centralized online database accessible to all financial institutions, establishing priority of charge and mitigating fraudulent multi-financing. Under Chapter IV-A of the SARFAESI Act, registration with CERSAI is necessary for secured creditors to enforce rights or claim priority over other creditors.