Schaeffler India505790Ongoing legal dispute

CEO released on bail, charges dropped; High Court stays further investigation

Police suo moto dropped charges against CEO & MD Harsha Gopal Kadam.

By ScoutQuest · Fri 23 Oct 2026, 6:24 PM IST · 2 min read

Charges Dropped: Authority suo moto dropped the charges under Section 105 of the Bharatiya Nyaya Sanhita, 2023
Release on Bail Bond: Released from custody on bail bond on October 22, 2026
High Court Interim Order: Interim order dated October 23, 2026 stayed further investigation; directed Authority not to file any chargesheet or supplementary…

What the company has shared

The company had earlier told the exchanges that its CEO & Managing Director, Mr. Harsha Gopal Kadam, was taken into custody for investigation by the Talegaon MIDC Police Station, Pimpri Chinchwad Police Commissionerate. This update sets out what has happened since.

Charges dropped

The company says it understands that the Authority suo moto dropped the charges under Section 105 of the Bharatiya Nyaya Sanhita, 2023 against Mr. Kadam.
Those were the only non-bailable offence alleged against him.

Released on bail bond

Mr. Kadam has since been released from the custody of the Authority on bail bond on October 22, 2026.
This followed an order of the Judicial Magistrate First Class, Vadgaon Maval, Pune.

Relief from the High Court

Mr. Kadam has informed the company that he has shared a Criminal Application before the Hon'ble High Court of Bombay, among other things for quashing of the Authority's investigation against him.
By an interim order dated October 23, 2026, the High Court has stayed further investigation against Mr. Kadam.
The High Court has also directed the Authority not to file any chargesheet or supplementary chargesheet against him.
The company says a copy of the interim order is awaited by Mr. Kadam.

What this means in simple terms

A "bail bond" is the undertaking given to court to secure release from custody while the matter continues.
"Quashing" is a request to a higher court to set aside the investigation or proceedings.
An "interim order" is a temporary direction that holds until the court hears the matter fully. Here it stays further investigation and stops any chargesheet from being shared.
A "suo moto" action is one the Authority takes on its own, without a complaint from someone else.

How the company has framed it

The company has described the developments as information it "understands" or has been "informed" of by Mr. Kadam, rather than as its own independent confirmation. The update follows the company's earlier disclosure and has been sent to BSE Limited (Company Code: 505790) and the National Stock Exchange of India Limited (Company Code: SCHAEFFLER).

What a reader can take away

The situation has moved on from the earlier disclosure of custody. The only non-bailable charge has been dropped by the Authority, Mr. Kadam is out on bail bond, and the High Court has restrained further investigation and any chargesheet for the time being.

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