( 1 ) THIS appeal is directed against the judgment and decree dated 7th August, 1998 passed by the Court of Shri -- M. Malik, Additional District Judge, Delhi granting a decree in favour of the respondent/plaintiff for Rs. 71,500. 00 (interest calculated at the rate of 1-1/2% per month) with proportionate costs and pendente lite an future interest at the same rate from the date of institution of the suit till realisation of the decretal amount.

( 2 ) BRIEF facts are that he respondent filed a suit against the appellant alleging that he had borrowed a total sum of Rs. 48,000. 00 through four different cheques; that he had agreed to pay interest at the rate of 3% per month; that neither principal amount nor interest thereon was paid, despite notice dated 1st May, 1988 to the appellant and a decree of Rs. 95,000. 00 with costs and pendente lite interest and future interest at the rate of 3% per month till realisation was sought. Appellant in the written statement denied the allegations, inter alia, pleading therein that the respondent was doing the business of money lending without any licence; loan acknowledgement receipts being unstamped were not admissible in law;