Supreme Court Schedules Phoenix Arc Appeal

Authority: Supreme Court of India

Order Date: 13-07-2026

Case Overview

• Appellant: Phoenix Arc Pvt. Ltd; Respondents: Kuldeep Verma & Ors.
• Civil Appeal No. 5653/2025; Interlocutory Application No. 131075/2025 (clarification/direction).
• Hearing conducted on 13 July 2026 before Hon'ble Justices J.B. Pardiwala and K. Vinod Chandran.
• Senior counsel Siddhartha Bhatnagar, representing the auction purchaser, raised apprehension that his bank account could be classified as a Non‑Performing Asset (NPA).

Final Outcome

1. The Court expressed the view that the main matter itself should be heard.

2. The matter, together with IA No.131075/2025, is ordered to be posted for final disposal on 24‑07‑2026.

3. Parties are directed to ensure that all pleadings are complete.

4. The Court noted the concern raised by senior counsel regarding the potential NPA classification of the auction purchaser’s account.

Topics: Court Order, Insolvency, Banking NPA