PRADEEP NANDRAJOG, J.

1. The above captioned appeal arises out of a judgment and decree dated 29.08.2001 passed by the learned Single Judge whereunder the suit for recovery in sum of Rs.26,30,000/- filed by respondent M/s. Taneja Skin Company (P) Ltd. has been decreed against the appellant M/s. Bharat Skins Corporation.

2. Since arguments in the appeal were restricted to only whether the suit which was filed on 02.09.1985 was barred by limitation or not, we propose to note only such facts as would be relevant on the subject.

3. Claim in the suit was that commencing with the first supply made on 11.08.1978, hides were sold under 56 bills by the plaintiff to the defendant and for which a current, open and mutual account was maintained by the respondent in the name of the appellant and as and when goods were supplied, a bill was raised for the value of the goods supplied and correspondingly a debit entry was made in the account of the appellant and as and when payment was received the same was credited by making a credit entry in the account. Last supply being effected on 03.09.1982, on the balance struck Rs.19,42,982.26 was due and payable and that after legal notice was serv