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      STATES</strong></font></div>
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      AND EXCHANGE COMMISSION</strong></font></div>
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      8-K</strong></font></div>
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      REPORT</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      of
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      5, 2006</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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            <td width="2%">&#160;</td>
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      the
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      provisions (see General Instruction A.2. below):</font></div>
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              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Written
                communications pursuant to Rule 425 under the Securities Act (17
                CFR
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Soliciting
                material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
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              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
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    <div>&#160;</div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      April
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      Phoenix India Acquisition Corp. (the &#8220;Company&#8221;) was consummated. Immediately
      prior to the IPO, the Company completed a private placement to an entity owned
      by management of 93,750 units. Each unit issued in the IPO and the private
      placement (the &#8220;Units&#8221;) consists of one share of Common Stock, $.0001 par value
      per share (&#8220;Common Stock&#8221;), and one Warrant (&#8220;Warrants&#8221;), each to purchase one
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      Unit, generating gross proceeds of $57,387,496. Audited financial statements
      as
      of April 5, 2006 reflecting receipt of the proceeds upon consummation of the
      IPO
      and the private placement have been issued by the Company and are included
      as
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          <tr>
            <td width="10%">&#160;</td>
            <td align="left" valign="top" width="10%" style="border-bottom: black thin solid;">
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                No.</font></div>
            </td>
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            <td align="left" valign="top" width="10%">
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            </td>
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            <td width="10%" style="border-bottom: medium none;">&#160;</td>
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    <div>&#160;</div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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            <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: "><strong>PHOENIX
              INDIA ACQUISITION CORP.</strong></font></td>
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            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;<br>&#160;</font></td>
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            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">Dated:&#160;
April
              10, 2006</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">By:&#160;&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">/s/&#160;Ramesh
              Akella</font></td>
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            <td>
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">Name:&#160;&#160;
                Ramesh Akella</font></div>
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">Title:&#160;&#160;&#160;&#160;
                President and Chief Strategy
                Officer</font></div>
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{"company-data": {"conformed-name": "Phoenix India Acquisition Corp.", "cik": "0001336775", "assigned-sic": "6770", "irs-number": "203195916"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-51854", "film-number": "06753036"}, "business-address": {"street1": "711 FIFTH AVENUE", "city": "NEW YORK", "state": "NY", "zip": "10022", "phone": "212-981-3240"}, "mail-address": {"street1": "711 FIFTH AVENUE", "city": "NEW YORK", "state": "NY", "zip": "10022"}}
UNITED
      STATES
SECURITIES
      AND EXCHANGE COMMISSION
WASHINGTON,
      D.C. 20549
FORM
      8-K
CURRENT
      REPORT
PURSUANT
      TO SECTION 13 OR 15(d) OF THE
SECURITIES
      EXCHANGE ACT OF 1934
Date
      of
      Report (Date of earliest event reported):
April
      5, 2006
PHOENIX
      INDIA ACQUISITION CORP.
(Exact
      Name of Registrant as Specified in Charter)
Delaware
000-51854
20-3195916
(State
                or Other Jurisdiction of Incorporation)
(Commission
                File Number)
(IRS
                Employer Identification No.)
645
                Madison Avenue, 12
th
Floor, New York, New York
10022
(Address
                of Principal Executive Offices)
(Zip
                Code)
Registrant's
      telephone number, including area code:
(212)
      371-1302
Not
      Applicable
(Former
      Name or Former Address, if Changed Since Last Report)
Check
      the
      appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of the registrant under any of the following
      provisions (see General Instruction A.2. below):
o
Written
                communications pursuant to Rule 425 under the Securities Act (17
                CFR
                230.425)
o
Soliciting
                material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
                240.14a-12)
o
Pre-commencement
                communications pursuant to Rule 14d-2(b) under the Exchange Act (17
                CFR
                240.14d-2(b))
o
Pre-commencement
                communications pursuant to Rule 13e-4(c) under the Exchange Act (17
                CFR
                240.13e-4(c))
Item
      8.01. Other Events
On
      April
      5, 2006, the initial public offering ("IPO") of 7,079,687 Units ("Units") of
      Phoenix India Acquisition Corp. (the "Company") was consummated. Immediately
      prior to the IPO, the Company completed a private placement to an entity owned
      by management of 93,750 units. Each unit issued in the IPO and the private
      placement (the "Units") consists of one share of Common Stock, $.0001 par value
      per share ("Common Stock"), and one Warrant ("Warrants"), each to purchase one
      share of Common Stock. The Units were sold at an offering price of $8.00 per
      Unit, generating gross proceeds of $57,387,496. Audited financial statements
      as
      of April 5, 2006 reflecting receipt of the proceeds upon consummation of the
      IPO
      and the private placement have been issued by the Company and are included
      as
      Exhibit 99.1 to this Current Report on Form 8-K.
Item
      9.01. Financial Statements and Exhibits
(d)
Exhibits:
Exhibit
                No.
Description
10.3
Investment
              Management
              Trust Agreement, dated March 30, 2006, between the Company and American
              Stock Transfer & Trust Company
99.1
Audited
                Financial Statements
99.2
Press
                release dated April 5, 2006
-2-
SIGNATURE
Pursuant
      to the requirements of the Securities Exchange Act of 1934, the registrant
      has
      duly caused this report to be signed on its behalf by the undersigned hereunto
      duly authorized.
PHOENIX
              INDIA ACQUISITION CORP.
Dated: 
April
              10, 2006
By:
/s/ Ramesh
              Akella
Name:  
                Ramesh Akella
Title:    
                President and Chief Strategy
                Officer
-3-