Schaeffler India CEO Released on Bail, Investigation Stayed

Schaeffler India Ltd has provided an update regarding its CEO & Managing Director, Mr. Harsha Gopal Kadam, who was previously taken into custody. The Talegaon MIDC Police Station has dropped charges under Section 105 of the Bharatiya Nyaya Sanhita, 2023, which was the only non-bailable offense. Mr. Kadam has been released on bail. Furthermore, the Hon'ble High Court of Bombay has granted an interim order staying further investigation against Mr. Kadam and has directed the authorities not to file any chargesheet. A copy of this interim order is awaited.