New Delhi, Oct 27 : The Delhi High Court has quashed a Look Out Circular (LOC) issued against an individual who defaulted on loans for two cars, saying that fundamental rights cannot be denied for non-payment of such loans. The LOC was issued because the individual had not appeared before investigating agencies or courts and had been declared a proclaimed offender. However, the court noted that the individual had subsequently appeared before the relevant court, and the order declaring him as a proclaimed person was no longer in effect. Justice Subramonium Prasad held that LOCs are typically opened against individuals accused of cognisable offenses under the Indian Penal Code to ensure their presence before investigating authorities and the court and that fundamental rights should not be taken away for non-payment of loans related to two cars. As a result, the court decided to quash the LOC issued against the petitioner in this specific case. The case involved a man seeking the quashing of an LOC issued against him for an FIR lodged at the Kashmere Gate police station for the offense of cheating due to his default in loan payments for two cars. The court instructed the man to cooperate with the investigating agency and deposit a security amount of Rs 5 lakh with the Registrar General of the court. Additionally, the court prohibited him from disposing of his Renault Duster and Verna CRDI cars during the proceedings. The court also noted that if the petitioner does not cooperate with the investigation or fails to appear before the courts, the authorities can open another LOC against him. Furthermore, the petitioner's passport, which was deposited with the Registrar General of the high court, was ordered to be released. The case involved the man's default on loans he had taken from the State Bank of India for the purchase of two cars in 2013. Criminal proceedings were initiated against him, leading to the issuance of the LOC. The man's counsel assured the court that he would cooperate with the investigation and attend all hearings. /IANS