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Hours after being booked by the CBI over alleged loan fraud, Maruti Suzuki’s flamboyant ex-chief Jagdish Khattar has said that an exhaustive independent forensic audit at the behest of the bankers did not find any wrongdoings in the functioning of Carnation Auto, which he had created post retirement.
Khattar according to a PTI report , who has been booked by the Central Bureau of Investigation (CBI) for an alleged bank loan fraud of Rs 110 crore, said no lapses in operations or financial management were found in the company by the investigating audit authorities and expressed hope that he will be vindicated once the probe is over.
“Post its (Carnation Auto) failure as a business, an exhaustive and detailed independent forensic audit at the behest of the bankers under the resolution professional was conducted by a leading independent auditor and nothing was found amiss,” Khattar said in a statement.
Having found no lapses in operations or financial management, the bank (Punjab National Bank) has referred the matter to the CBI as part of the process followed by them, he added.
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.
