Soumen Sen, J. - (1.) This is an application by the defendant for rejection of the plaint on the ground that the jurisdiction of the Court is barred by law.
(2.) The plaintiff is incorporated under the appropriate laws of Netherland.
(3.) The plaintiff has instituted a suit at an appropriate Court at Belgium and has obtained a money decree against the defendant. The Country of the plaintiff, however, did not have reciprocal treaty with India as a result whereof the plaintiff filed a suit on the basis of the said decree which in fact is an enforcement of the foreign decree in this Court. The plaintiff has alleged that the defendant is having properties within the jurisdiction of this Court. The suit was instituted in the year 2005. The original plaintiff namely ABN AMRO Limited was a banking company within the meaning of section 5 (1)(c) of The Banking Regulation Act , 1949 (hereinafter referred to as The Regulation Act) and was carrying on its banking business in India on the basis of a license granted by the Reserve Bank of India under Section 22 of the said Regulation Act. The said bank had merged with the Royal Bank of Scottland N.V. in 2007 and thereafter by reason of amendment to the Articles of Association on 26th April, 2018, the plaintiff is now known as Natwest Markets N.V. The articles of association of the plaintiff company would show that the said plaintiff does not carry on banking business at all in India. The plaintiff has been excluded from the second schedule to the Reserve Bank of India 1934 by reason of a notification dated 28th February, 2017 published in the gazette of India on 6th May, 2017.;