Rera
Act
Maharashtra
Karnataka
Telangana
Andhra Pradesh
Delhi
Uttar Pradesh
Haryana
Gujarat
Bihar
Odisha Tribunal Stops Bank Auction, Orders Completion of Stalled Housing Project
Dated on: Wednesday 3rd December 2025The Odisha Real Estate Appellate Tribunal (OREAT) has stopped a public-sector bank from auctioning a stalled housing project taken over under the SARFAESI Act. The bank had assumed possession after the developer defaulted on loan repayment, but the Tribunal ruled that once the lender steps in, it effectively “acts as the promoter” and must cooperate in completing the project. OREAT directed ORERA to work with the bank to find a way to finish construction—through another developer or an allottees’ association. This prevents auction of flats already allotted to buyers waiting for their homes for over a decade.
