Under Section 20(1) of the SARFAESI Act, which authority

Solution

Section 20(1) of the SARFAESI Act provides that the Central Government may, by notification, set up or cause to be set up a registry to be called the 'Central Registry' for the purpose of registration of transactions relating to securitisation and reconstruction of financial assets and creation of security interests. The Central Registry is an executive institution established by the Central Government, administered through a Central Registrar appointed under Section 21. It is not a creature of the RBI or SEBI, though both play important roles in regulating the market participants. The 2016 Amendment greatly expanded the scope of the Central Registry to cover a wider range of security interests and creditors under Chapter IVA.