Schaeffler India stock in focus after CEO custody report

Published on 11/13/2026 at 03:11 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Schaeffler India stock is in focus after CEO Harsha Gopal Kadam was taken into custody. The company says operations continue in the ordinary course.

Investigation adds management risk

Schaeffler India CEO Harsha Gopal Kadam was taken into custody in an investigation into a fatal factory accident.
The June 9 accident killed two workers employed by a service provider after a carbon dioxide release.
The company said senior management remains in charge and business activities continue in the ordinary course.

Schaeffler, INE513A01022, Illustration mit AI erstellt.

Schaeffler India CEO and Managing Director Harsha Gopal Kadam was taken into custody on October 19 in connection with an investigation into a fatal factory accident, The Economic Times reported. The development puts senior management and safety oversight at the center of investor attention.

Investigation reaches senior management

The accident occurred on June 9 at Schaeffler India's factory in Talegaon, Pune. Two workers employed by a service provider died after a sudden discharge of carbon dioxide during a scheduled cylinder replacement, according to the company statement cited by The Economic Times.

Police expanded the investigation to Kadam on the grounds that he was considered the occupier of the factory premises under applicable law. Schaeffler India said the company, its employees and its officers had cooperated with the authorities and would continue to do so.

Operations continue during inquiry

The company said senior management remained responsible for day-to-day operations and that business activities continued in the ordinary course. It is evaluating the developments with legal advisers and said it would take the necessary steps under applicable law.

Latest BSE quotation

Schaeffler India stock traded at INR 3,549.45 on the BSE at 3:29 p.m. IST on Thursday, November 12, 2026. The quotation provides the latest market reference for investors as the investigation develops.