Samvardhana Motherson International Limited has issued a clarification regarding recent labour protests in Noida and other cities, which have been reported in various media outlets. The company stated that these protests are part of a broader labour issue affecting multiple industries, driven by misinformation about wage revisions.
The company assured that its operations remain compliant with all applicable laws and that there has been no material impact on its business. Samvardhana Motherson emphasised that the safety of its employees is a top priority and that it is working closely with authorities to resolve the situation and restore normalcy as soon as possible.
This statement was submitted in accordance with the Securities and Exchange Board of India’s regulations on listing obligations and disclosure requirements. The company also mentioned that the clarification would be simultaneously released to the media.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).