Khattar was inducted as the marketing director of Maruti for the first time in 1993 and in 1999, he took over as MD. After nearly 37 years of experience with Maruti Suzuki, he laid the foundation of his own company, Carnation Auto India.
New Delhi: Maruti Former MD Dies: Former Maruti Suzuki MD Jagdish Khattar died on Monday ie today due to cardiac arrest. Jagdish Khattar was 78 years old, and was associated with Maruti Udyog Limited from 1993 to 2007. Under his leadership, Maruti gained immense popularity. Khattar was inducted as the marketing director of Maruti for the first time in 1993 and in 1999, he took over as MD.
After nearly 37 years of experience with Maruti Suzuki, he laid the foundation of his own company, Carnation Auto India. All of which was the only sales and service company of the brand. Khattar was involved in a controversy in 2019 when the Central Bureau of Investigation accused him of bank fraud of Rs 110 crore by Carnation Auto India.
The CBI had registered a case against Khattar and his company under various sections of IPC related to criminal conspiracy and fraud on the basis of a complaint filed by Punjab National Bank on 7 October 2019. However, in response to the allegations leveled against him, Khattar said that “Carnation is a commercial failure. There is no wrongdoing”. A forensic audit was conducted in detail earlier this year by a prominent forensic auditor. In which nothing was achieved. After which the bank handed over the investigation to the CBI. The CBI has investigated it and no evidence has been found against him.
Prior to joining Maruti, Khattar was an Indian Administrative Service IAS officer, he also held several key administrative positions in the Ministry of Steel and the Government of UP. When he joined Maruti, Maruti became a company with an annual income of 9,000 to 22,000 crores. Whose profits reached around Rs.1730 crores which was five times more.
