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Judgment
N. Nagaresh, J
The petitioner approached this Court when the Stage Carriage bearing No.KL-31P-0730 owned by the petitioner was seized by the respondents on 12.03.2024. The petitioner states that the loan account was closed subsequently on 15.03.2024 by remitting ₹2 lakhs. However, the vehicle has not been released alleging that the loan availed by the wife of the petitioner for an Excavator, is in arrears.
Standing Counsel entered appearance and submitted that the loan account of the petitioner in respect of the Stage Carriage bearing No.KL-31P-0730 has been settled and closed subsequently. Therefore, the said vehicle can be released. However, there are other dues from the petitioner in respect of other vehicle loans. The Bank may be permitted to proceed for recovery of those amounts, if warranted, under Section 13(10).
Taking into consideration the facts of the case and taking into consideration the fact that the loan account in respect of the Stage Carriage bearing No.KL-31P-0730 has been closed, the respondents are directed to release the said Stage Carriage at the earliest. It is made clear that if there are any other dues from the petitioner as a borrower or guarantor, the respondents will be at liberty to proceed against the petitioner in accordance with law.