Ex-Maruti MD booked for Rs 110 cr bank loan fraud: CBI

News Network
December 24, 2019

New Delhi, Dec 24: The CBI has booked former Managing Director of Maruti Udyog, Jagdish Khattar, for alleged bank loan fraud of Rs 110 crore by his new company, officials said on 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, they said.

The CBI has carried out searches at the premises of 77-year old Khattar and Carnation Auto on Monday evening, 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 a 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 Punjab National Bank, the officials said.

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 a 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 an 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 the role of bank officials will be under the scanner.

The bank had mentioned five accused persons in its complaint including three guarantor companies--Khattar Auto India Pvt Ltd, Carnation Realty Pvt Ltd, and Carnation Insurance Broking Company Pvt Ltd but their direct role did not surface during the verification exercise.

"However, their role in detail will be ascertained during investigation," the agency said.

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News Network
May 28,2020

New Delhi, May 28: BJP national spokesperson Sambit Patra has been admitted to a private hospital in Gurgaon after he showed symptoms of COVID-19, sources said.

He is admitted to the Medanta hospital in Gurgaon, hospital sources said on Thursday.

The BJP leader has shown symptoms of COVID-19, a source said.

Patra is one of the most visible BJP faces on news channels.

He is also very active on social media and posted several tweets on Thursday as well.

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News Network
January 17,2020

New Delhi, Jan 17: A Delhi court Friday issued fresh death warrants for February 1, 6 am against the four convicts in the Nirbhaya gang rape and murder case.

Additional Sessions Judge Satish Kumar Arora was hearing a plea by one of the four death row convicts in the case, Mukesh Kumar Singh, seeking postponement of the date of his execution scheduled for January 22.

Earlier in the day, the Tihar jail authorities sought issuance of fresh death warrants against the four convicts.

Public Prosecutor Irfan Ahmed told the court that Mukesh's mercy plea was rejected by President Ram Nath Kovind on Friday.

The 23-year-old paramedic student, referred to as Nirbhaya, was gang-raped and brutally assaulted on the intervening night of December 16-17, 2012 inside a moving bus in south Delhi by six persons before being thrown out on the road.

She died on December 29, 2012, at Mount Elizabeth Hospital in Singapore.

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News Network
January 27,2020

Kolkata, Jan 27: The West Bengal government on Monday tabled a resolution against the Citizenship (Amendment) Act in the Assembly.

The resolution appeals to the Union government to repeal the amended citizenship law and revoke plans to implement NRC and update NPR.

As per reports, state Parliamentary Affairs Minister Partha Chatterjee introduced the resolution in the House around 2 pm.

Three states - Kerala, Rajasthan and Punjab - have already passed resolutions against the new citizenship law.

The law has emerged as the latest flashpoint in the state, with the TMC opposing the contentious legislation tooth and nail, and the BJP pressing for its implementation.

The new citizenship law has emerged as the latest flashpoint in the state, with the TMC opposing the contentious legislation tooth and nail, and the BJP pressing for its implementation.

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