STCI Finance Appeals Dismissed in IMP Powers Liquidation

NCLAT dismisses STCI Finance's appeals challenging IMP Powers Limited's liquidation process and sale to successful bidder Rakesh Ramanlal Shah.
Tribunal upholds liquidator's treatment of STCI's security interest as part of liquidation estate due to non-compliance with Regulation 21A requirements.
Court directs NCLT to determine distribution of ₹78 crore sale proceeds among creditors under Section 53 within four weeks.
Third appeal by STCI Finance dismissed as time-barred with 171 days delay beyond permissible limitation period.