Law enforcement authorities in Pune took Schaeffler India's managing director and chief executive officer Harsha Kadam into custody on Tuesday. This was due to the executive being allegedly linked to an accident involving one of the company's factories on June 9.
The firm said in a filing that it will continue to cooperate with the authorities and is evaluating all developments with its legal advisors.
The Talegaon MIDC Police Station, Pimpri Chinchwad Police Commissionerate took Kadam into custody in accordance with the provisions of the Bharatiya Nyaya Sanhita, 2023.
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The accident involved the loss of lives of two workers employed by the company's service provider, who died on factory premises due to a sudden CO₂ gas discharge during scheduled cylinder replacement.
"The matter has been under investigation by the authority and the company, its employees and officers as well as the Managing Director have been cooperating with the authority," the filing said.
The firm stated that the police expaneded the scope of the investigation to include Kadam due to him being the "occupier" of the factory premises as per legal norms.
"The scope of the investigation has now been expanded to involve the Managing Director, on the basis that he is the ‘occupier' of the factory premises under applicable law, and the authority has taken the Managing Director into custody for investigation," the filing said.
The senior management of the firm will continue to administrate with regards to day-to-day management, The filing further said that the business operations of the company will continue "in the ordinary course."
(This is a developing story.)
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