In a clarification to the stock exchange, MRF said “some of the workmen at the company’s manufacturing plant at Tiruvottiyur, Chennai, Tamil Nadu, have gone on an illegal strike with regard to payment of annual insurance premium as advance and opposing the hiring of trainees under the National Apprentice Promotion Scheme (NAPS), Prime Ministers Internship Scheme (PMIS) and Naan Mudhalvan Scheme”.
The Tiruvottiyur factory is one of the ten factories the company has across India.
“The strike is illegal,” MRF said. “The operations of the factory are being partly continued with the help of the workmen who are not part of the strike,” it added.
“We would like to inform you that the impact of the strike does not exceed the financial thresholds for reporting adopted by the company under Regulation 30 of the SEBI [Listing Obligations and the Disclosure Requirements] Regulations, 2015 and, hence, the same is not required to be disclosed under Regulation 30,” MRF clarified.
