Odisha News, Odisha Latest news, Odisha Daily - OrissaPOST
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
No Result
View All Result
OrissaPOST - Odisha Latest news, English Daily -
No Result
View All Result

Former Maruti Udyog MD Jagdish Khattar booked in bank loan fraud case

PTI
Updated: December 24th, 2019, 16:53 IST
in Business, Top Stories
0
Maruti Udyog MD Jagdish Khattar booked in bank loan fraud case
Share on FacebookShare on TwitterShare on WhatsAppShare on Linkedin

New Delhi: The CBI has booked former MD of Maruti Udyog, Jagdish Khattar, for alleged bank loan fraud of Rs 110 crore by his new company, officials said Tuesday.

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 (PNB), the probe agency said. The CBI has carried out searches at the premises of 77-year old Khattar and Carnation Auto, Monday evening after which the FIR was lodged.

Also Read

Puri Jagannath temple's Ratna Bhandar

Jagannath temple Ratna Bhandar repair done; inventory awaits govt nod

8 hours ago
Lightning strike kills 2, injures 1 in Odisha's Bhadrak.

Lightning strike kills 2, injures 1 in Odisha’s Bhadrak

8 hours ago

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

The agency has registered an FIR under IPC sections related to criminal conspiracy and cheating on a complaint from PNB, the officials informed.

“Carnation is a bonafide business failure. There is no wrong doing. Even an audit was conducted and nothing amiss was found. The bank has referred it to CBI as a part of the process followed by them. Search was conducted by CBI but nothing incriminating was found. We will be vindicated once the investigation is completed,” Khattar said.

Also Read – Umar Khalid released from prison to attend sister’s wedding

The CBI has alleged that Khattar and his company dishonestly and fraudulently sold the goods hypothecated to the bank without its permission and diverted the funds thereby causing criminal breach of trust and cheating that caused wrongful loss to the bank and gain to Khattar and his company.

The bank had conducted a  forensic audit which showed that fixed assets to the tune of Rs 66.92 crore were sold for a consideration amount of Rs 4.55 crore without its approval, they said.

It is also alleged that sale proceeds were not deposited with the bank and Khattar had dishonestly and fraudulently extended loans and advances to its sister concern/subsidiaries also. “Thereby it has committed misappropriation of bank funds and has put them for own use,” the FIR said.

The bank officials allegedly did not do mandatory monthly verification of stock and cross check the debtors/creditors, the FIR said adding role of bank officials will be under scanner.

PTI

 

Tags: CBIFraudJagdish KhattarloanMaruti UdyogPunjab National Bank
ShareTweetSendShare
Suggest A Correction

Enter your email to get our daily news in your inbox.

 

OrissaPOST epaper Sunday POST OrissaPOST epaper

Click Here: Plastic Free Odisha

#MyPaperBagChallenge

Priyabrata Mohanty

December 12, 2019
#MyPaperBagChallenge

Chinmay Kumar Routray

December 12, 2019
#MyPaperBagChallenge

Priyasha Pradhan

December 12, 2019
#MyPaperBagChallenge

Nishikant Rout

December 12, 2019
#MyPaperBagChallenge

Mrutyunjaya Behera

December 12, 2019
#MyPaperBagChallenge

Sibarama Khotei

December 12, 2019
#MyPaperBagChallenge

Ramakanta Sahoo

December 12, 2019
#MyPaperBagChallenge

Jyotshna Mayee Pattnaik

December 12, 2019
#MyPaperBagChallenge

Akshaya Kumar Dash

December 12, 2019
#MyPaperBagChallenge

Ramakanta Sahoo

December 12, 2019
#MyPaperBagChallenge

Anup Mahapatra

December 12, 2019
#MyPaperBagChallenge

Manas Samanta

December 12, 2019
#MyPaperBagChallenge

Kamana Singh

December 12, 2019
#MyPaperBagChallenge

Pitabas Tripathy

December 12, 2019
#MyPaperBagChallenge

Anasuya Sahoo

December 12, 2019
#MyPaperBagChallenge

Arya Ayushman

December 12, 2019
#MyPaperBagChallenge

Diptiranjan Biswal

December 12, 2019
#MyPaperBagChallenge

Sarfraz Ahmad

December 12, 2019
#MyPaperBagChallenge

Spinoj Pattnaik

December 12, 2019
#MyPaperBagChallenge

Vandana Singh

December 12, 2019
#MyPaperBagChallenge

Adrita Bhattacharya

December 12, 2019
#MyPaperBagChallenge

Sarmistha Nayak

December 12, 2019
#MyPaperBagChallenge

Keshab Chandra Rout

December 12, 2019
#MyPaperBagChallenge

Archit Mohapatra

December 12, 2019
#MyPaperBagChallenge

Ankita Balabantray

December 12, 2019
#MyPaperBagChallenge

Tapaswini Mallick

December 12, 2019
#MyPaperBagChallenge

Pratyasharani Ghibela

December 12, 2019
#MyPaperBagChallenge

Matrumangal Jena

December 12, 2019
#MyPaperBagChallenge

Jhili Jena

December 12, 2019
#MyPaperBagChallenge

Shreyanshu Bal

December 12, 2019

Archives

Editorial

Acknowledge Failure

Deputy Chief of Army Staff Lieutenant General Rahul R Singh
July 7, 2025

Deputy Chief of Army Staff Lieutenant General Rahul R Singh’s candid revelations about Operation Sindoor at a FICCI event ‘New...

Read more

Politics of Philosophy

AAKAR PATEL
July 6, 2025

The BJP’s constitution (Article 3) says, “Integral Humanism shall be the philosophy of the party.” The party’s membership form has...

Read more

India’s Spy Shift

July 5, 2025

India’s espionage architecture is quietly shifting. The appointment of Parag Jain as the new chief of RAW comes at a...

Read more

Hungary Lessons

Hungary
July 2, 2025

Revolting against oppression and seeking freedom is ingrained in human nature, something that a repressive regime finds out sooner or...

Read more
  • Home
  • State
  • Metro
  • National
  • International
  • Business
  • Editorial
  • Opinion
  • Sports
  • About Us
  • Advertise
  • Contact Us
  • Jobs
Developed By Ratna Technology

© 2024 All rights Reserved by OrissaPOST

  • News in Odia
  • Orissa POST Epaper
  • Video
  • Home
  • Trending
  • Metro
  • State
  • Odisha Special
  • National
  • International
  • Sports
  • Business
  • Editorial
  • Entertainment
  • Horoscope
  • Careers
  • Feature
  • Today’s Pic
  • Opinion
  • Sci-Tech
  • About Us
  • Contact Us
  • Jobs

© 2024 All rights Reserved by OrissaPOST

    • News in Odia
    • Orissa POST Epaper
    • Video
    • Home
    • Trending
    • Metro
    • State
    • Odisha Special
    • National
    • International
    • Sports
    • Business
    • Editorial
    • Entertainment
    • Horoscope
    • Careers
    • Feature
    • Today’s Pic
    • Opinion
    • Sci-Tech
    • About Us
    • Contact Us
    • Jobs

    © 2024 All rights Reserved by OrissaPOST