V.K. Jain, J.

1. This is a suit for grant of permanent injunction, rendition of accounts, delivery up of the infringing material and damages. Plaintiff No. 1 is a company registered in Denmark whereas plaintiff No. 2 is a subsidiary of plaintiff No. 1 and is registered in India. Plaintiff No. 1 company was founded by Mr. Keld Ellentoft for developing, designing and manufacturing, fabric, elastomer and fluropolymer expansion joints/compensators, which are installed to accommodate thermal expansion/contraction of the ducting system due to rise and fall in temperature and claims to be a well known manufacturer of these products carrying business in several countries including U.K., Scandinavian countries, North and South America and South Korea. Pursuant to Joint Venture Agreements dated 15.1.1987 and 6.5.1987 the first agreement between plaintiff No. 1 F.Harlay and Company and the second between it and the directors of F. Harlay and Company, defendant No. 2 was incorporated in India on 14.5.1987, for the purpose of manufacturing and marketing expansion joints/compensators, coating materials and related services. 40% of the share capital of defendant No. 2 company was contributed by Da