Phoenix Arc Pvt. Ltd. v. St John Freight Systems Ltd.
Case brief
What is this about?
Phoenix Arc Pvt Ltd versus St John Freight Systems Ltd; Bombay High Court Commercial Division; Abhay Ahuja J.; order dated 12 January 2026; Court Receiver discharged subject to payment of costs, charges and expenses worked out by the Court Receiver; steps under Securitisation and Reconstruction of Financial Assets and Enforcement of Security Act, 2002 (SARFAESI); withdrawal of execution proceedings left open; Interim Applications 642, 643, 644 of 2025 in Commercial Execution Applications 138, 156, 149 of 2025; next hearing 24 February 2026.
What did the court decide?
The Court Receiver stands discharged in Interim Applications Nos. 642, 643 and 644 of 2025, subject to payment of his costs, charges and expenses as worked out by the Court Receiver and communicated to the Advocate for the Applicant; the question of withdrawal of the execution proceedings was left open for instructions, with the matters listed on 24 February 2026.