S. B. MHASE, J.

( 1 ) THIS appeal is directed against the order passed by Civil judge, Senior Division, Panvel on 21/3/1998 below exhibit-16 in Special Civil Suit no. 61/95, rejecting the Plaint under Order VII, Rule 11 of the Code of Civil Procedure, 1908 since the claim made by the appellants-plaintiffs for the recovery of rs. 15,67,230. 72/- with future interest at the rate of 24 per cent per annum from respondents was/is time-barred.

( 2 ) SPECIAL Civil Suit No. 61/95 has been filed by the appellants on 20/6/1995 before the civil Judge, Senior Division, Panvel for the recovery of an amount of rs. 15,67,230. 72 ps. and further interest at the rate of 24 per cent per annum on Rs. 3,89,760/- from the date of the filing of the suit till realisation. The appellants carry on business as manufacturers of Purified therpthlic Acid (P. T. A. ). One of the essential ingredients required by the appellant for the manufacturer of P. T. A. is Hydrobromic acid. In August 1993, the appellants had placed an order for the purchase of a total quantity of 32. 48 metric tons of Hy- drobromic Acid with one M/s. First Intercontinental corporation, Irving, Texas 7506, u. S. A. for a total price