Pune, October 20, 2026 (Yes Punjab News)
Schaeffler India Managing Director and Chief Executive Officer Harsha Kadam was taken into custody by Pune police on Tuesday in connection with a factory accident in June that claimed the lives of two workers.
According to a regulatory filing by the company, Kadam was taken into custody for investigation by the Talegaon MIDC Police Station, under the Pimpri Chinchwad Police Commissionerate, under provisions of the Bharatiya Nyaya Sanhita, 2023.
The accident occurred on June 9, 2026, at the company’s factory premises when carbon dioxide (CO₂) gas was suddenly discharged during a scheduled cylinder replacement. Two workers employed by a service provider to the company died in the incident.
In its filing, Schaeffler India said the authorities had been investigating the accident and that the company, its employees, officers and managing director had been cooperating with the probe.
The company stated that the investigation had now been expanded to include Kadam on the grounds that he was considered the “occupier” of the factory premises under applicable law. The police subsequently took him into custody for investigation.
Schaeffler India said it would continue to cooperate with the authorities and was assessing the latest developments in consultation with its legal advisers.
The company also clarified that its senior management would continue to oversee day-to-day operations and that business activities would proceed as usual.
Meanwhile, shares of Schaeffler India Ltd closed at Rs 3,623.40 on Monday, registering a decline of 1.25 per cent from the previous close of Rs 3,669.20. The fall was slightly steeper than the 1.11 per cent decline recorded by the Nifty index.
The stock opened at Rs 3,671.90 during Monday’s session and traded within a range of Rs 3,603.60 to Rs 3,675.50.
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