( 1 ) THE present notice of motion has been taken out for a decree on admission for the sum of US $ 17,919,603. 68 with interest @ 9% p. a. from the date of filing the suit till payment and/or realisation. Some of the material facts of the present case briefly enumerated are as under :

( 2 ) THE plaintiffs have filed a suit for the recovery of aforesaid amount based on foreign Judgment and decree dt. 18-9-02 passed by the United States District Court, Southern district of New York in case No. 02 CV 4007 (LLS ). The plaintiffs are a bank and are interalia constituted and having their operations in New York, U. S. A. The defendant no. l is a company which is incorporated in India and carrying on business at Bombay. Defendant no. 2 is a Chairman of defendant no. 1. There is a company known as Silver Line Technologies, inc, a company incorporated and constituted under the laws of Delaware, U. S. A. The said company Silver Line Technologies Inc was indebted to the plaintiffs for a large amount of money and defendant no. l and 2 herein were the personal guarantors in respect of the loan lent and advanced by the plaintiff bank to the said Silver Line Technologies, Inc. Plaintiffs initiated legal recovery proceedings in the court of United States District Court, Southern district of New York by filing a suit being case no. 02 CV 4007 (LLS) against the said Silver line Technologies, Inc. The defendant no. 1 and 2 herein were also parties to the said suit as guarantors. In the said suit proceedings, defendants entered their appearances and after entering their appearances, settlement was arrived at by and between the parties and the same was reduced to writing. The said settlement agreement is dt. 18-9-02. Under the terms and conditions of the said settlement agreement, all the defendants in the said suit in america including the defendants herein unconditionally confirmed, acknowledged and admitted their liability to pay to the plaintiffs certain amounts as mentioned in the said settlement agreement. Defendant No. 1 and 2 herein as personal guarantors also admitted and acknowledged liability to pay the said aforesaid amount of loan. Thus, the said action which was initiated by the plaintiffs in America was culminated in a settlement agreement between the parties. The said settlement agreement which was filed in court, thus can be termed as consent Terms by which disputes between the parties were finally resolved. In the light of the said settlement agreement which was entered into by and between the parties and after considering the pleadings, documents and evidence on merits and also the admission of liability contained in the said settlement agreement, the court of United States District court passed a Judgment and Decree in favour of plaintiffs and against defendants for principal sum of US$ 27,143,144. 24 and Attorneys fees at the rate of US$ 351,772. 85, aggregating to us$ 27,495,164. 09 as the decree against the defendants and in favour of the plaintiffs. In respect of the said decree in fact the plaintiffs also received part payment of US$ 9,575,560. 41 and thus, the balance amount claimed by the plaintiffs in the present suit is us$ 17,919,603. 68.

( 3 ) IN view of the fact that the United states being not a reciprocal territory as contemplated under section 44-A of the Civil procedure Code, plaintiffs herein has filed a suit on the basis of the said judgment as the said Judgment is foreign Judgment under section 13 of the Civil Procedure Code. Plaintiffs have accordingly filed the present suit against the defendant no. 1 and 2 who are the two guarantors and parties to the said proceedings in America and have suffered judgment decree against them. In this suit, the present Notice of Motion has been taken out for the purpose of passing a decree in terms of the settlement agreement which has been arrived at by and between the parties and forming part of the United States Suit No. 02 cv 4007 and on the basis of which the District c

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