The Delhi High Court has ruled that a person's fundamental rights cannot be taken away for non-payment of a loan. The court quashed a look-out circular (LOC) issued against a man who defaulted on loans for two cars. The court stated that the petitioner's appearance in court nullified the earlier order declaring him a proclaimed offender, rendering the LOC invalid. The court directed the petitioner to cooperate with the investigating agency and deposit a security amount, while prohibiting him from disposing of his cars during the proceedings.
#Loan #dues #can039t #fundamental

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This is a reference draft reproduced for study and adaptation. Court rules, court fees and the correct forum vary with the facts and the value of the claim, so have the document checked and filed by an advocate. A defective application can be returned or dismissed even when the case itself is good.

Our Banking & Recovery team drafts and files these documents before the Calcutta High Court, city civil courts, magistrate, family and consumer courts in Kolkata. We handle recovery suits, SARFAESI and insolvency proceedings.

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Loan Dues Can't Take Away Fundamental Right: Hc: Format

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