 "Jagdish Khattar")
The Central Bureau of Investigation (CBI) has registered a criminal case against the former managing director of Maruti Udyog, Jagdish Khattar, and his firm Carnation Auto India for allegedly selling the assets pledged with Punjab National Bank (PNB) against a loan and diversion of Rs 110 crore.
Khattar started his own company — Carnation Auto —— after leaving the automobile major in 2007. During the investigation, the central agency found that Khattar and his company had “dishonestly and fraudulently” sold the fixed assets worth Rs 66.9 crore for Rs 45.6 crore, without approval of the bank, whereas the assets were furnished
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