Mr. Jagdish Khattar, Chiarman and Managing Director of Carnation Auto have been able to successfully convince, Punjab National Bank (PNB) to cough out Rs. 170 crore, so that Carnation Auto can expand its network across the country.
The agreement was signed between Khattar and PNB DGM (Large Corporate Branch, New Delhi) V Gujjal. As per the clauses pf the agreement, the flow of funds will be concentrated towards the rollout and expansion of company’s hubs across the country and its various business verticals which includes general repairs, workshop on wheels, car customization with Mr. Dilip Chabria’s DC Design, insurance, new car sales, e-business and accessories.
Carnation Auto already has 12 operational multi-brand auto solutions hubs in Amritsar, Chennai, Gurgaon, Noida, Mumbai, Hyderabad and Kochi and plans to take this number to 30 by the end of this fiscal year.