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CBI books ex-Maruti MD Jagdish Khattar for bank loan fraud
TIWN
CBI books ex-Maruti MD Jagdish Khattar for bank loan fraud
PHOTO : TIWN

New Delhi, Dec 24 (TIWN) The CBI on Tuesday said it has registered a case against Maruti Udyog's former Managing Director Jagdish Khattar in connection with an alleged bank loan fraud of Rs 110 crore by his new company.

In its first information report (FIR) filed, the agency has apparently named Khattar and his company Carnation Auto India Limited for allegedly causing losses to the tune of Rs 110 crore to state-run Punjab National Bank (PNB) Khattar was with Maruti from 1993 to 2007 when he retired as MD of the company. 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.

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