PHOENIX ARC PVT LTD vs NET 4 COMMUNICATION on 19 October 2026

Debts Recovery Tribunal-Il, Delhi TA/318 12024 PHOENIX ARC PvT LTD VS NET 4 COMMUNICATION \ 19.10.2026 Item no'76 present: Sh. Ab|iinav Sharma, Counsel for applicant FI . ruone for defendants Matter is taken through Video Conferencing/ Hybrid Mode' ! IA no.1]|5gl2}26 has been filed by the applicant FI for witlidrawal of the Present TA. :; fhei Ld. Counsel for the applicant FI submits that the ,ongig"a/cnarged assets of defendants have already been sold by Phoenix ARC, inter alia, under SARFAESI Act, 2OO2 and i* pr,,o"ni* ARC is not aware of any other assets of defendants for recovering its remaining outstanding dues. In view of the above circumstances, applicant lPhoe6ix ARC has decided to withdraw the present originat application, as its con_tinuation under the circumstances is explained above are not financially and piacticatly viable. Fufther, applicant/Phoenix.ARC, !9weyer, i"r"*", its right to initiate appropriate procgedings and/or take recourse to suth remedies as may be available in law against the defendants, as and when circumstances so warrant. Therefore, he wishes to withdraw the present TA' In view of the above submissions made by applicant Fl, IA \

- = . - no. 1 1 59 I 2026-=is-, a I lowed-TAl3 t8 12024'is:dismissed- as-*IF' withdrawn. File be consigned tQ record room. 9A (SUSHIL KU PrH( RASTOGI) PRESIDING OFFICER DRT-II, Delhi c