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 pendency of the suit which was valid from a date subsequent to the filing of the suit, had not maintained any account of the loan nor furnished to the appellant any statement of account in respect thereof are also not in dispute.
(iii) The appellant took a specific defence that the respondent / plaintiff is a money - lender doing money - lending business without lice