The Supreme Court upheld a Rajasthan High Court judgment in the case titled “ Union Bank Of India vs Rajasthan Real Estate Regulatory Authority “held that Real Estate Regulatory Authority can entertain complaints by home buyers against the bank which took possession of a real estate project as a secured creditor. The Union Bank of India and others had questioned the authority of RERA before the Rajasthan High Court to issue any directions against a bank or financial institution which claims security interest over the properties which are subject matter of agreement between the allottee and the developers. The bank had contended that it is not amenable to jurisdiction of RERA since RERA can issue directions only against the promoter, allottee or a real estate agent and the bank being none of these entities, RERA cannot entertain any proceedings against the bank. The RERA had held that since bank being an assignee of the promoter, it would fall within the definition of promoter.