New Delhi, November 19, 2019 – Leading industrial and automotive supplier, Schaeffler India Ltd (BSE: 505790, NSE: SCHAEFFLER) (Formerly FAG Bearings India Ltd) has taken enforcement action and conducted raids along with the local police and seized approximately INR 28 lakhs worth of counterfeit products in the Kashmere Gate area in New Delhi. The seizure includes fake bearings and fake product packaging. These counterfeit products were being sold by small time traders and retailers under the company’s brand of FAG.
Mr. Harsha Kadam, CEO, Schaeffler India said, “The Schaeffler Group has zero tolerance policy towards all cases of product and brand piracy with its primary aim being to protect its customers’ interests. A counterfeit bearing can cause significant financial losses and also pose a risk to life as they do not meet the quality requirements of genuine bearings from market leaders. To maintain trust with our customers and to protect our reputation and brand, we are very vigilant for the authenticity of our products. We will continue to undertake similar measures, to combat counterfeiting in future”.
In 2004, Schaeffler set up a central department for fighting product and brand piracy. Since then the company’s Brand Protection Team has handled several thousand cases in Asia as well as many major counterfeiting offences in other parts of the world.
To protect buyers and end clients procuring Schaeffler products from distributors, Schaeffler has assessed and certified sales partners worldwide. All authorized distributors are listed on the Schaeffler website and can be checked by entering the certificate number. In addition, to authenticate Schaeffler products, the company has also launched an app – OriginCheck. The app gives end customers, distributors, and authorities the tools they need to quickly and easily carry out initial checks on INA and FAG products. The checks are carried out based on the traceable data matrix codes that are placed on the Schaeffler packaging.