JUDGMENT

B. P. SINGH, J. — Special leave granted.

2. These appeals have been filed by the appellants against the common judgment and order of the High Court of Judicature at Bombay dated 20.10.2006 in First Appeals Nos. 138 and 139 of 2006 whereby the High Court has affirmed the order of the trial Court dismissing the suits filed by the appellants under Order 7 Rule 11 of the Code of Civil Procedure holding that the suits are barred by limitation.

3. The representative facts giving rise to these appeals are taken from the pleadings in suit filed by Hardesh Ores Pvt. Ltd. The appellants herein, namely, Hardesh Ores Pvt. Ltd. in civil appeal arising out of SLP (C) No. 106 of 2007 (for short “Hardesh”) and Sociedade de Fomento Industrial Pvt. Ltd. in civil appeal arising out of SLP (C) No. 640 of 2007 (for short “Fomen¬to”) respectively entered into two agreements with the respondent Hede & Co. (for short “Hede”) on 23.10.1996. The agreement with Hardesh was for extraction of ore from the mine in question whereas the agreement with Fomento was for purchase of minerals extracted from the mine. Both the agreements contained similar terms and conditions. As per Clause 2.1 of the agreemen