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of <h1>Financial Entity's Appeal Halts Sale Certificate Issuance; Awaiting Outcome and Further Hearings in September 2024.</h1> <h3>STCI Finance Limited Versus IMP Powers Limited & Ors.</h3> STCI Finance Limited Versus IMP Powers Limited & Ors. - TMI The National Company Law Appellate Tribunal in New Delhi heard an appeal by STCI Finance Limited against an order directing the issuance of a Sale Certificate and distribution of proceeds. The Appellant had previously accepted a proposed amount but now disputes it due to objections from State Bank of India and other creditors. The Liquidator still proposes the same payment amount. The Tribunal decided to issue a notice for the appeal, allowing the Appellant to include the Auction Purchaser and creditors in the proceedings. The Sale Certificate issuance is pending the appeal result. Further filings are scheduled, and the case is set for a hearing on September 25, 2024, without affecting the Adjudicating Authority's ability to proceed lawfully.
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