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
December 6,2025

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With IndiGo flight disruptions impacting thousands of passengers, the airline on Saturday said that it will offer full waiver on all cancellations/reschedule requests for travel bookings between December 5, 2025 and December 15, 2025.

Earlier in the day, the civil aviation ministry had directed the airline to complete the ticket refund process for the cancelled flights by Sunday evening, as well as ensure baggage separated from the travellers are delivered in the next two days.

In a post on X, titled 'No questions asked', IndiGo wrote, "In response to recent events, all refunds for your cancellations will be processed automatically to your original mode of payment."

"We are deeply sorry for the hardships caused," it further added.

Several passengers, however, complained of not getting full refund as promised by the airline.

Netizens have shared screenchots of getting charged for airline cancellation fee and convenience fee.

"Please tell me why u have did this airline cancellation charges when u say full amount will be refunded (sic)," a user wrote sharing a screenshot of the refund page.

"Well, but you have still debited the convenience charges," wrote another.

Passengers have also raised concerns about the "cancel" option being disabled on the IndiGo app. "First enable the 'Cancel' button on your App & offer full refund on tickets cancelled by customers between the said dates," wrote a user.

A day after the country's largest airline, IndiGo, cancelled more than 1,000 flights and caused disruptions for the fifth day on Saturday, the ministry said that any delay or non-compliance in refund processing will invite immediate regulatory action.

The refund process for all cancelled or disrupted flights must be completed by 8 pm on Sunday, the ministry said in a statement.

"Airlines have also been instructed not to levy any rescheduling charges for passengers whose travel plans were affected by cancellations," it said.

On Saturday, more than 400 flights were cancelled at various airports.

IndiGo has also been instructed to set up dedicated passenger support and refund facilitation cells.

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News Network
December 7,2025

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Since 1946, the United States has attempted 93 coups or “regime change” operations across the world — including two in Iran, US Special Envoy for Syria Tom Barrack has admitted.

Speaking to the UAE-based IMI Media Group, in remarks published by The National, Barrack said Washington tried twice to overthrow the Iranian government but failed both times. 

“For (Trump) then to be imputed with regime change — we had two regime changes in Iran already. Neither one worked. So I think wisely leave it to the region to solve,” said Barrack, who also serves as the US ambassador to Turkey.

His comments come six months after the US joined Israel in airstrikes against Iran during ongoing indirect nuclear negotiations between Tehran and Washington.

On June 13, Israel launched an attack on Iran that killed at least 1,064 people and hit civilian infrastructure. Days later, the United States targeted three nuclear facilities — Fordow, Natanz and Isfahan — in what Iran called a clear violation of international law. Iranian retaliation eventually forced a halt to the assault on June 24.

Barrack further claimed that US President Donald Trump and Foreign Secretary Marco Rubio are “not into regime change” and prefer a regional approach driven by Middle Eastern countries themselves. According to him, regional dialogue and non-interference by outside powers offer a more durable path forward.

He added that Washington is still open to an agreement with Tehran if Iranian authorities show “seriousness” and willingness to engage constructively.

However, Iran maintains the US has not shown readiness for meaningful talks. In an interview with Japan’s Kyodo News, Iranian Foreign Minister Abbas Araghchi said negotiations could advance only if Washington acknowledges Iran’s right to peaceful nuclear energy and lifts unilateral sanctions.

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News Network
December 19,2025

Mangaluru: Public transport in Mangaluru is set for a state-led transformation as the government moves to deploy 100 new electric govt buses to replace unreliable private services. The initiative aims to provide a dependable alternative to private operators who have been frequently "cutting trips," leaving thousands of commuters stranded.

The announcement was made by Deputy Commissioner and MCC Administrator Darshan HV during a public phone-in session. The move specifically targets routes where private bus service has become erratic, ensuring that citizens no longer have to rely on a fluctuating private sector for their daily commute.

Restoring the Govt Presence

The transport crisis was brought to the forefront by Ramayya, a resident of Bajal, who highlighted a growing trend of private buses skipping morning and night trips. With the previous KSRTC (govt) services discontinued, residents have been left without a fallback option.

To fix this, the DC confirmed that the PM-eBus Sewa Scheme will bring 100 government-owned electric buses to the city:

•    Phased Deployment: The first 50 of the new 100 government buses are scheduled to arrive by March 2026.

•    State Infrastructure: Two new government depots, including one at Mudipu, are being prepared for operations.

•    Recruitment: The state has already begun training a new batch of government bus drivers to ensure the fleet is operational the moment it arrives.

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