Samvardhana Motherson International Limited on Monday clarified that recent labour protests in Noida and other cities have not had any material impact on its operations, amid reports in sections of the media.
In an exchange filing, the company said the unrest was part of a broader labour issue affecting multiple industries in Noida, Uttar Pradesh, and some other cities, driven by “misinformation” around wage revisions.
Follow our live blog on the protest for more updates
“Our operations remain compliant with all applicable laws with no material impact on the Company. The safety of our employees remains our top priority,” the company said.
According to Uttar Pradesh Police, demonstrations were held at multiple locations in Noida, allegedly instigated by elements from outside the state, though only one location witnessed violence, which was brought under control using minimum force.
A large number of workers from various industrial units gathered in parts of Noida, demanding a wage hike. The protests turned violent in some areas, leading to incidents of arson, vandalism, and traffic disruption.
Also Read: Noida protest: Cars set on fire, stones pelted during salary hike unrest; Watch video
The company added that authorities are working closely with industry stakeholders to restore normalcy at the earliest.
The clarification was issued in line with the Securities and Exchange Board of India’s listing and disclosure requirements, and will also be shared with the media, the company said.
In an exchange filing, the company said the unrest was part of a broader labour issue affecting multiple industries in Noida, Uttar Pradesh, and some other cities, driven by “misinformation” around wage revisions.
Follow our live blog on the protest for more updates
“Our operations remain compliant with all applicable laws with no material impact on the Company. The safety of our employees remains our top priority,” the company said.
According to Uttar Pradesh Police, demonstrations were held at multiple locations in Noida, allegedly instigated by elements from outside the state, though only one location witnessed violence, which was brought under control using minimum force.
A large number of workers from various industrial units gathered in parts of Noida, demanding a wage hike. The protests turned violent in some areas, leading to incidents of arson, vandalism, and traffic disruption.
Also Read: Noida protest: Cars set on fire, stones pelted during salary hike unrest; Watch video
The company added that authorities are working closely with industry stakeholders to restore normalcy at the earliest.
The clarification was issued in line with the Securities and Exchange Board of India’s listing and disclosure requirements, and will also be shared with the media, the company said.
