KSL AND INDUSTRIES LIMITED Vs. PUNJAB NATIONAL BANK

JUDGEMENT

(1.) Heard the learned Counsel appearing for the parties for adinterim antisuit injunction.

(2.) The AppellantsOriginal Plaintiffs have challenged impugned Order dated 25.11.2013 whereby the learned Judge, City Civil Court, Greater Mumbai, refused to grant any adinterim relief in an antisuit injunction filed by the AppellantsPlaintiffs in respect of the proceeding instituted by the RespondentDefendant Punjab National Bank in High Court of Hong Kong Special Administrative Region Court of First Instance being Action No.1888 of 2013 for recovery of US $11,448,985.28.

(3.) At this stage, the question is whether Indian Court can pass any antisuit injunction/order. Pursuant to the writ of summons, the AppellantsPlaintiffs forwarded the acknowledgement within the time prescribed. Now the next steps is to file defence within next 28 days. The last date of filing of decence is on or about 26 December 2013, failing which, the consequenced is foreign decree/judgment to follow. In view of the provisions of Sections 13, 14 and 44A of the Code of Civil Procedure (CPC), such decree/judgment is executable in India as being Hong Kong reciprocating country.