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.
Former managing director of Maruti Suzuki India, Jagdish Khattar, passed away on Monday morning following a cardiac arrest, according to people close to him. Khattar (79), a former bureaucrat, was considered as one of the most high profile leaders of the Indian automotive industry, laying the foundation for Maruti's future growth after the government began its disinvestment in 2002 and gradually exited from its joint venture with Suzuki Motor Corporation (SMC). He had joined the then Maruti Udyog Ltd in July 1993 as director (marketing) and went on to become executive director (marketing) in the next six years.
It signals a major jump in the global acceptance of India as a hub for small cars, but maintaining this will require a lot more including, for starters, large production volumes.
Corporate India tempered its victory celebrations for the supposedly business-friendly Narendra Modi-led National Democratic Alliance's landslide electoral victory by highlighting the need for immediate steps to create jobs through inclusive economic growth.
The price differential between diesel and petrol has narrowed. But there are still enough reasons to opt for the diesel variant.
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