More Stories

Informist, Wednesday, Oct. 21, 2026

 

--Schaeffler India: MD under investigation for accident at Talegaon, Pune unit
--Schaeffler India: MD Harsha Kadam taken into custody by Talegaon police

 

MUMBAI – Schaeffler India Ltd. Tuesday said Chief Executive Officer and Managing Director Harsha Gopal Kadam was taken into custody by the Talegaon police Monday in connection with an investigation. The police are probing an accident in the company's factory premises in Talegaon on Jun. 9, Schaeffler India said in an exchange filing.

 

Two workers had died in the accident due to a sudden carbon dioxide discharge during a scheduled cylinder replacement, the company said. The matter has been under investigation by the police and the company. Schaeffler India's employees, officers, and the managing director have been cooperating with the investigating authority, the company added.

 

The scope of the investigation has been expanded to involve the managing director on the basis that he is the "occupier" of the factory premises under applicable law, the company said. The company's business operations will continue in the ordinary course, it added. The company is consulting its legal advisers and will take all steps to resolve the situation, it said.

 

For the June quarter, Schaeffler India had reported a consolidated net profit of INR 3.26 billion on revenue of INR 27.61 billion. Monday, its shares ended at INR 3,623.40 apiece on the National Stock Exchange, down over 1.2%.  End  

 

Reported by Pratyush Kumar

Edited by Rajeev Pai

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

 

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2026. All rights reserved.