SKF India announces demerger, leadership changes

SKF India Limited announced the resignation of Mukund Vasudevan as managing director and Ashish Saraf as chief financial officer, effective September 30, 2025, due to a management restructuring following the company's demerger. Concurrently, Mayuri Kulkarni has been appointed as company secretary & compliance officer and Bhavna Panigrahi as interim HR head, Automotive India, both effective October 1, 2025.

The restructuring follows the approval of a Scheme of Arrangement by the National Company Law Tribunal, Mumbai Bench, on September 26, 2025. This scheme sanctions the demerger of SKF India Limited's Industrial Business into a wholly-owned subsidiary, SKF India (Industrial) Limited. The demerger aims to separate the Automotive and Industrial Businesses to enhance strategic flexibility and focused management.

Shareholders of SKF India Limited will receive one fully paid-up equity share of SKF India (Industrial) Limited (INR 10/- face value) for every one fully paid-up equity share of SKF India Limited (INR 10/- face value) they hold. These new shares will be listed on the BSE and NSE. The scheme also includes the cancellation of the entire pre-scheme share capital of SKF India (Industrial) Limited, with an effective date by mutual agreement of the boards or by March 31, 2026.