SUPREME COURT AFFIRMS RAJASTHAN HIGH COURT's JUDGMENT THAT SECURED CREDITORS ARE AMENABLE TO RERA JURISDICTION

Published On: 18/02/2022

Practice Area: Real Estate

Authors:

The Supreme Court of India has affirmed the recent judgment of Rajasthan High Court passed in December 2021 which held that a bank initiating recovery proceedings against promoters will be amenable to the jurisdiction of Real Estate Regulatory Authority (“RERA”). The Supreme Court has further clarified that actions against secured creditors before the RERA shall be applicable in cases where proceedings are initiated by homer buyers to protect their rights. INDUSLAW's Avikshit Moral and Preeti Dhar provide their insight on the judgement.