"Jaani Dushman: Ek Anokhi Kahani" which I found under the bootleg title "Indian Terminator: Fight the Matrix".
This perfectly describe this movie: it is an action/horror movie in which a giant demon snake becomes a ...展开terminator-like killer which, using Matrix-like kung fu moves and bullet time effects, hunt down a bunch of people throughout the film.
IMDB has as a "fantasy comedy horror action"., but the whole film is played VERY SERIOUSLY, which makes the whole thing ludicrous. It was not meant as a comedy at all!
Wikipedia sums it best: " This film has been widely criticised as one of the worst films ever."