RERA prevails over the SARFAESI: Supreme Court recently upheld that the RERA prevails against the SARFAESI Act. Regarding SLP filing of Union Bank of India, It was dismissed by the Supreme Court and held that RERA has the jurisdiction to entertain complaints filed by the Home Buyers against the bank which took possession of the project as a secured creditor. An innocent home buyer can move to the RERA against the bank acquisition.

Supreme Court referred to the case of Bikram Chatterji Vs Union of India where the apex court noted
that in collision of RERA and SARFAESI Act, the provision of RERA would prevail. RERA would not apply in the case where the mortgage has been made prior to the introduction of the Act itself except there is no fraudulent or collusive transaction made.

RERA has the authority to entertain a complaint against the bank as a secured creditor if the bank
takes the recourse of any provision contained under section 13(4) of the SARFAESI Act.