SCSchaeffler India505790Government probe

CEO & MD taken into custody for investigation into factory accident

Schaeffler India has informed exchanges that its CEO & Managing Director, Mr. Harsha Gopal Kadam, has been taken into custody for investigation.

By ScoutQuest · Tue 20 Oct 2026, 6:35 PM IST · 2 min read

Accident date

June 9, 2026

Fatalities

two workers of the company's service provider lost their lives due to a sudden CO₂ gas discharge

Custody taken

October 19, 2026, at around 06:40 p.m.

What the company told the exchanges

Schaeffler India has informed the stock exchanges that Mr. Harsha Gopal Kadam, CEO & Managing Director of the company, has been taken into custody for investigation by the Talegaon MIDC Police Station, Pimpri Chinchwad Police Commissionerate, under the provisions of the Bharatiya Nyaya Sanhita, 2023.

What lies behind it

• The custody relates to an investigation into an accident at the company's factory premises in Talegaon, Pune on June 9, 2026.
• The accident involved loss of lives of two workers of the company's service provider at the factory premises, due to a sudden CO₂ gas discharge during scheduled cylinder replacement.
• The matter has been under investigation, and the company, its employees and officers as well as the Managing Director have been cooperating with the authority.
• The scope of the investigation has now been expanded to involve the Managing Director, on the basis that he is the 'occupier' of the factory premises under applicable law.

When it happened

• The Managing Director was taken into custody late evening on October 19, 2026, at around 06:40 p.m.

What the company says about operations

• The senior management of the company continues to be in-charge of the day-to-day management, and business operations continue in the ordinary course.
• The company and its officers have duly co-operated in the investigation and will continue to do so.
• The company is evaluating the developments in consultation with its legal advisors and will take all steps necessary in accordance with applicable law to resolve the situation.
• Against "Estimated amount involved (if any)", the update states Not applicable.

How a retail investor might read it

The disclosure is about the personal custody of the company's top executive in connection with an investigation into a workplace accident, not about any fraud or default at the company. The company's stated position is that day-to-day management rests with senior management and operations are running as usual. The update states that the company is evaluating the developments with its legal advisors.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.

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