Short answer. The rule requires a summary hearing at which all parties are heard, conducted within twenty-four hours after the sheriff's return of service or the receipt of the records by the branch chosen by raffle. The application is to be acted upon only after that hearing.
What the law says
(d) The application for a temporary restraining order shall thereafter be acted upon only after all parties are heard in a summary hearing which shall be conducted within twenty-four hours after the sheriff's return of service and/or the records are received by the branch selected by raffle and to which the records shall be transmitted immediately.
Rule 58, Section 4 — Verified application and bond for preliminary injunction or temporary restraining order. Read the full provision →
All parties are heard before the application is acted upon
The provision is explicit that the application shall be acted upon only after all parties are heard in a summary hearing. That phrasing puts you inside the process rather than outside it. The hearing is described as summary, meaning it is meant to be short and focused rather than a full trial of the dispute — but it is a hearing, and the party to be restrained is one of the parties entitled to be present at it.
The twenty-four hour clock, and what starts it
The hearing shall be conducted within twenty-four hours after the sheriff's return of service and the receipt of the records by the branch selected by raffle. The rule also directs that the records shall be transmitted to that branch immediately. So the period is short, and it is triggered by events you can identify from the record: when service was actually returned, and when the chosen branch received the papers. Both dates are worth confirming.
What comes before this stage
This paragraph follows on from the requirement that, in a multiple-sala court, a case containing an application for injunctive relief is raffled only after notice to and in the presence of the person to be enjoined, with summons and the supporting papers served beforehand or at the same time. Read in sequence, the rule is designed so that the person to be restrained knows about the case, sees the affidavit and bond, and is heard — all before any order operates against them.
Preparing for a hearing on that timescale
Twenty-four hours leaves little room, so use it on the two things the rule makes central. First, whether the verified application actually shows facts entitling the applicant to the relief demanded, since that is what the rule requires of it. Second, the bond: unless the court exempts the applicant, a bond must be filed to answer for all damages you may sustain if the court finally decides the applicant was not entitled to the order.