CBI Books Jagdish Khattar Former MD of Maruti Udyog for Rs 110 Cr Loan Fraud

News

CBI has recently booked Jagdish Khattar the former Managing Director of Maruti Udyog for alleged bank loan fraud of Rs 110 crore by his new company, officials said on Tuesday, 24 December.

In its FIR filed recently, the CBI has named Khattar and his company Carnation Auto India Limited for allegedly causing a loss of Rs 110 crore to Punjab National Bank, they said.

Khattar was with Maruti Udyog Limited from 1993 to 2007 when he retired as Managing Director of the company, they said:“After retirement he had launched Carnation for which he got a loan of Rs 170 crore sanctioned in 2009. The loan was declared non performing asset in 2015 with effect from 2012, the FIR said.”

The officials said that the agency has registered an FIR under IPC sections related to criminal conspiracy and cheating on a complaint from Punjab National Bank.

Leave a Reply

Your email address will not be published. Required fields are marked *