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      Question

      Section 21 of the SARFAESI Act deals with the

      appointment of the Central Registrar. Who appoints the Central Registrar?
      A The Reserve Bank of India Correct Answer Incorrect Answer
      B The Supreme Court of India by order Correct Answer Incorrect Answer
      C The Finance Ministry through a gazette notification Correct Answer Incorrect Answer
      D The Central Government by notification in the Official Gazette Correct Answer Incorrect Answer
      E The Securities and Exchange Board of India Correct Answer Incorrect Answer

      Solution

      Section 21 provides that the Central Government may, by notification in the Official Gazette, appoint an officer of the Central Government as the Central Registrar for the purpose of the SARFAESI Act. The Central Registrar heads the Central Registry established under Section 20 and is responsible for maintaining the Central Register of securitisation, reconstruction and security interest transactions under Section 22. The Central Registrar also performs functions under Sections 24 and 25 relating to modification and satisfaction of security interests. The Central Government also has power under Section 20B to delegate powers of the Central Registrar to such other officers as it may deem fit.

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