Hi Naren.
There is a messageHandler property, which from the documentation "This object describes an API exposed to the object model of a container application that allows sending and receiving messages from an embedded PDF document. For example, when a PDF document is embedded in an HTML document using the <OBJECT> tag, the PDF object is scripted in the browser scripting context."
http://livedocs.adobe.com/acrobat_sdk/9.1/Acrobat9_1_HTMLHelp/wwhelp/wwhimpl/js/html/wwhelp.htm?href...
I've sent messages from an html page to a PDF but it does say you can receive messages, however there was not much documentation on this and I never used it in the live project so can't really help.
But might be a place to start looking?
Bruce