MANMOHAN SINGH, J.

1. The application under consideration being I.A. No. 3915/2009 has been filed by defendant no. 2 under Section 124 (1) of the Trade Marks Act, 1999 read with Section 151 of the Code of Civil Procedure, 1908 (referred to as the CPC for brevity) for stay of the present suit.

2. The present suit has been filed by the plaintiff for permanent injunction restraining the defendants from infringing of trade mark, passing off, rendition of accounts, damages, royalty, delivery up etc. praying, inter alia, for the following reliefs :

“(a) For a decree of permanent injunction restraining the defendants by itself as also through their individual proprietors, partners, directors, agents, representatives, distributors, assigns, heirs, successors, stockists and all others acting for and on their behalf from using, selling, soliciting, exporting, displaying, advertising by visual, audio, print mode or by any other mode or manner or dealing in or using the impugned trade mark/label MICO or any other identical with and/or deceptively similar word/mark/label in relation to their impugned goods and business of manufacturing and marketing of Lubricants, Petroleum Products viz. Engine Oil, Gear Oil etc. and from doing any other acts or deeds amounting to or likely to:-

(i) Infringing the registered trade mark of the plaintiff under No.433800 and 433801 in class 04.

(ii) Passing off and violation of the plaintiff?s rights in the plaintiff?s said trade mark/label MICO.

(b) Restraining the defendants from disposing off or dealing with its assets including its shops and premises at M/s Motor Industries Co. Ltd., Automotive Aftermarket, Hosur Road, Adugodi, Banglore-560303; and of Maggon Auto Centre, Y 234 Mangolpuri, Delhi-110083 and its stocks-in-trade or any other assets as may be brought to the notice of this Hon?ble Court during the course of the proceedings and on the defendants disclosure thereof and which the defendants are called upon to disclose and/or on its ascertainment by the plaintiff as the plaintiff is not aware of the same as per Section 135(2)(c) of the Trade Marks Act, 1999 as it could adversely effect the plaintiff?s liability to recover the costs and pecuniary relief thereon.

(c) For an order for delivery up of all the impugned finished and unfinished materials bearing the impugned and violative trade mark/label or any other deceptively similar trade mark/label including its blocks, labels, display boards, sign board, trade literatures and goods etc. to the plaintiff for the purposes of destruction and erasure.

(d) For an order for rendition of accounts of profits earned by the defendants by their impugned illegal trade activities and a decree for the amount so found in favour of the plaintiff on such rendition of accounts.

(e) In the alternative to accounts, for a decree for grant of damages of Rs.20,01,000/- (Rupees Twenty Lakh and One Thousand only) from the defendants, jointly and severally to the plaintiff.”

3. The brief facts leading up to the present case are that the plaintiff was company duly incorporated under the Companies Act, 1956 in 1986 and is engaged in the business of manufacturing and marketing petroleum products like brake and clutch fluid, lubricating oil, greases and other allied and cognate goods. In 1960, the plaintiff through its predecessors Sh. Chaman Lal Malhotra, Sh. Satinder Pal Malhotra and Sh. Deepal Malhotra trading as „Malhotra Oil Corporation at C 65/1, Phase II, Mayapuri, Industrial Area, New Delhi? adopted the trade mark „MICO? and „MICO? label. „MICO? trade mark and „MICO? label have been registered by the said predecessors vide application no. 433800 and 433801 respectively, both dated 12th February, 1985 and in Class 4. The user claimed with respect to both is since 4th October, 1960. The registrations are stated to be renewed and valid.

4. Vide an agreement dated 20th September, 1994 the legal predecessors of the plaintiff assigned all rights, interest and title in