Section 35 of the SARFAESI Act contains a non-obstante clause. What is the effect of Section 35?

Section 35 of the SARFAESI Act is the general overriding provision which states: 'The provisions of this Act shall have effect, notwithstanding anything inconsistent therewith contained in any other law for the time being in force or any instrument having effect by virtue of any such law.' This is a sweeping non-obstante clause that gives SARFAESI supremacy over other laws. However, the Supreme Court has ruled that the IBC, 2016 will have primacy over SARFAESI in insolvency situations (as reflected in Section 13(9)'s reference to IBC). Section 35 is a classic exam-tested provision demonstrating the Act's overriding character in the legal landscape of financial recovery.