Section 26C(1) of the SARFAESI Act provides that

Solution

Section 26C(1) provides that registration of transactions of creation, modification or satisfaction of security interest by a secured creditor or other creditor, or filing of attachment orders under Chapter IVA, 'shall be deemed to constitute a public notice from the date and time of filing of particulars of such transaction with the Central Registry.' This public notice principle is the cornerstone of the Central Registry's legal effect - it creates constructive notice to all persons from the moment of filing, not from the date of approval or confirmation. Section 26C(2) further creates a priority rule: security interests or attachment orders filed for registration shall have priority over any subsequent security interest created upon such property.