1. This is defendant's appeal under S.96 of the Code of Civil Procedure (briefly, 'the Code') against the judgment and decree dated 3-2-2009 passed by 1st Additional District Judge, Raigarh in Civil Suit No. 5 - B / 2008 whereby and whereunder, the respondent's suit has been decreed.

2. Facts of the case in brief are as under:
(i) There is no material point of fact which is now in dispute. The suit out of which this appeal arises was brought on 27-3-2008 by the respondent / plaintiff for recovery of Rs. 1,50,000/- as principal, Rs. 99,000/- as interest and Rs. 1,000/- as notice expenses on the basis of promissory note dated 16-6-2005 executed by the appellant in favour of the respondent / plaintiff. The loan carried interest at the rate of 24% per annum.
(ii) The plaintiff procured the money lending licence during the p