Former Maruti MD, Jagdish Khattar Expires Due to Cardiac Arrest at 79
Jagdish Khattar, former managing director of Maruti Suzuki and founder of an automotive sales and service company, Carnation Auto India suffered cardiac arrest and died at the age of 79.
Jagdish was associated with Maruti Udyog Limited from 1993 till his retirement in 2007. Later, he joined Maruti in 1993 as director of marketing and went on to elevate as its MD in 1999, first as a government nominee and then in May 2002 as the Suzuki Motor Corporation nominee.
Before his stint with Maruti Suzuki, Jagdish served as an IAS officer with about 37 years of experience. After obtaining retirement from Maruti in 2007, he set up the foundation of his new company, Carnation Auto India that has a multi-brand pan-India sales and service network.
Jagdish was involved in a controversy in 2019 when the Central Bureau of Investigation charrged him for alleged bank fraud to the tune of 110 crore by Carnation Auto India.
Furthermore, the CBI had filed an FIR opposite Jagdish and his company under various sections of the IPC related to criminal conspiracy and cheating on the basis of a complaint filed by the Punjab National Bank (PNB) on October 7, 2019.
Responding to the charges against him, Jagdish stated, "Carnation is a bona fide business failure. There is no wrongdoing. A detailed forensic audit was conducted earlier this year by a leading independent auditor and nothing amiss was found. The bank (PNB) has now 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."