I don't have a Garud AK, but I have some of Lokendra Kami's Dui Chirra type khukuris with carvings on the end of the handle. Same principle as the Garud AK.
They're certainly capable of being used, but I wouldn't. These are works of art, and while part of the attraction is that they are as solidly made as a "regular" khukuri, some of the beauty is bound to be marred by anything but the most minimal usage. But it's up to you. Some people make a principle of not keeping any blade that isn't a "user," but in that case, why spend the extra money on something with an elaborately carved handle?
One additional point: Most HI knives are "full tang" in the sense that the tang goes entirely through the handle and is peened over at the end. This is not the case of the Garud and other artistic models that have figures carved on the end. Although your Garud handle is probably completely secure, the fact that it is not "full tang" might be another reason not to use it, or at least not to use it for heavy work.
By the way, Lokendra Kami is not the same as Lok Kami. Two completely different people. Lokendra used to work for HI, but I don't think he does these days. Here's an example of one of Lokendra's Gorkha Hat Knives with a matching female version:
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He did a little ceremony with this pair of knives, calling it the wedding of Brave Man and Wise Woman.
The first photo shows the knives not quite finished. In the second photo they are finished, but the picture really doesn't do them justice, due to the lighting. These are highly polished blades with beautiful, deep fullers and elaborate Swords of Shiva. The photos are from Yangdu's original posting. One of these days I'll take new photos and post them.