Supreme Court heard appeal by STCI Finance Ltd against IMP Powers Ltd concerning NCLAT’s view on sale of corporate debtor assets.
Court declined to interfere with NCLAT’s approval of the going‑concern sale but will test the claim of no first pari‑passu charge.
Sale process may proceed to logical conclusion while a notice is issued, returnable on 29 July 2026.
Any interim distribution is stayed pending the appeal outcome, prohibiting parties from claiming equity based on such distribution.