T Pyx is one of the most famous Galactic recurrent novae with puzzling characteristics that still needs to be resolved. Though T Pyx is a Cataclysmic Variable (CV) with an unusually high accretion rate ($\ge$10$^{-8}$ M$_{\odot}$ yr$^{-1}$) below the period gap showing recurrent nova outbursts, T Pyx portrays to be a moderately fast classical nova that ejects about 3$\times$10$^{-5}$ M$_{\odot}$ in very eruption with about 20 to 40 yr recurrence time. The mass of the WD in the system is 0.7-1.0 M$_{\odot}$ which is not the expected near-Chandrasekhar WD in recurrent nova systems postulated by the standard nova theory. In this paper, I review binary characteristics of T Pyx along with the detailed multiwavelength observations of the latest 2011 outburst of the system.

Standard disk theory at steady state predicts, an optically thick boundary layer at the accretion rate of quiescent T Pyx, with a blackbody emission in the soft X-ray/EUV regime. I review here that there is no such blackbody emission detected from T Pyx in the X-ray wavelengths and the quiescent $Chandra$ observations (two months prior to outburst) are consistent with a multi temperature thermal plasma emission model at a maximum temperature $kT_{\rm max}$ $>$ 47.0 keV (2$\sigma$ lower limit is 37 keV). Thus, the X-ray emission indicates that T Pyx has an optically thin boundary layer merged with an advection-dominated accretion Flow and/or X-ray corona in the inner disk indicating ongoing quasi-spherical accretion at (very) high rates during quiescent phases. Such a boundary layer structure may be excessively heating the white dwarf via advective hot accretion flows, influencing the thermonuclear runaway leading to the recurrent nova events.

In addition, I elaborate on the models of the circumstellar interaction of T Pyx outbursts and the existing old remnant. Balman (2014) shows detailed work on deconvolving the central source and its spectrum from any possible extended emission using high resolution imaging at the subpixel level revealing an extended emission with S/N $\sim$6-10. The derived shape looks like an elliptical nebula with a semi-major axis $\sim$1.0 arc sec. The nebulosity seems consistent with an interaction of the outflow/ejecta from the 1966 outburst.