RELIABILLITY ENGINEERING INDUSTRIES,R.R.DISTRICT,A.P. Vs. AESSEAL INDIA PVT. LTD., PUNE DISTRICT, MAHARASHTRA

JUDGEMENT

(1.) These three miscellaneous appeals filed under Rule 1 of Order 43 C.P.C. arise out of a common order, dated 08.04.2013, passed in three interlocutory applications filed in O.S. No. 73 of 2012 on the file of the I Additional District Judge, Ranga Reddy District. Hence, they are disposed of through a common judgment. For the sake of convenience, the parties are referred to as arrayed in the suit.

(2.) The 2nd plaintiff-AES Engineering Limited, Global Technology Centre is a Company, incorporated in England. The 1st plaintiff is a Company incorporated in India and is a 100% subsidiary of the 2nd plaintiff. The plaintiffs undertake the activity of designing, manufacture, and supply of mechanical seals, engineered sealing systems (for short 'the mechanical seals') and other related products. They claim to have acquired international reputation in that filed. The business of the plaintiffs is said to have started in India, in the year 2003.

(3.) The 9th defendant is an Indian Company with its registered office at Hyderabad and it is undertaking similar activity to that of the plaintiffs. It is said to have approached the 1st plaintiff through defendants 7 and 8 and 10 and 11, who too are in the same filed of activity, with a proposal to have collaboration or association with the 1st plaintiff. Defendants 10 and 11 are the respective spouses of defendants 7 and 8. An asset purchase agreement has been entered into, on 03.09.2008. According to that, the assets including proprietary rights, technical, know-how and intellectual property rights, relating to manufacture of mechanical seals as well as the employees shall be transferred in favour of the 1st plaintiff. The consideration is said to be Rs. 12.9 crores and that a sum of Rs. 7.9 crores is paid on the date of the agreement.