Finance Ministry invites applications for the position of CERSAI managing director

The Finance Ministry has invited applications for the post of managing director of Central Registry of Securities Asset Reconstruction and Security Interest of India (CERSAI).

The Central Registry of Securities Asset Reconstruction and Security Interest of India (Central Registry) has been incorporated in 2011 as a government company under Section 25 of the Companies Act 1956.

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The Government of India owns 51 percent while remaining stake is with select public sector banks and the National Housing Bank.

The object of the company is to maintain and operate a registration system for the purpose of registration of transactions of securitisation, asset reconstruction of financial assets and creation of security interest over property, as contemplated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act).

Applications are invited for the post of Central Registrar and managing director of Central Registry, Department of Financial Services under the Finance Ministry said in a public notice said.

According to eligibility criteria, the applicant should be below the age of 59 years as on October 17, 2022. General managers or above of nationalised banks and chief general managers of of Reserve Bank of India, Nabard, Sidbi and India Infrastructure Finance Company Ltd are eligible for the position, it said.

"Joint Secretary level officer of Central Government working in the pay scale of pay band 4 and grade pay of Rs 10,000 or director level officer of working in the pay scale of pay band 4 and grade pay of Rs 8,700 who have worked for at least three years as directors are also eligible to apply," it said.

Tenure of the managing director would be of 3 years from the date of joining of office, it said, adding, the tenure of the officer may be extended with the approval of Appointment Committee of Cabinet provided that extended tenure shall not be beyond the time the officer attains the age of 60 years.
The last date for submission of application May 13, 2022.