Reliance Industries (RIL) today (4 January 2021) has sought urgent intervention of government authorities to stop the vandalism of Jio mobile towers by protesters agitating against the Centre's new farm laws.
The petition for the same will be filed by the company's subsidiary Reliance Jio Infocomm (RJIL) in the Punjab and Haryana High Court today (4 January 2021).
"These acts of violence have endangered the lives of thousands of its employees and caused damage and disruption to the vital communications infrastructure, sales and service outlets run by its subsidiaries in the two states, the conglomerate said in a statement.
The company further said that the miscreants indulging in vandalism have been instigated and aided by vested interests and our business rivals. Taking advantage of the ongoing farmers' agitation near the national capital, these vested interests have launched an incessant, malicious and motivated vilification campaign against Reliance, which has absolutely no basis in truth.
"Reliance has nothing whatsoever to do with the three farm laws currently debated in the country, and in no way benefits from them. As such, the sole nefarious purpose of linking the name of Reliance to these laws is to harm our businesses and damage our reputation, it added.
The conglomerate said that Reliance Retail (RRL), Reliance Jio Infocomm (RJIL), or any other affiliate of RIL has not done any corporate or contract farming in the past, and has absolutely no plans to enter this business.
It further said that neither Reliance nor any of our subsidiaries has purchased any agricultural land, directly or indirectly, in Punjab/Haryana or anywhere else in India, for the purpose of corporate or contract farming and added that the company has absolutely no plans to do so.
Reliance Retail does not purchase any food grains directly from farmers. It has never entered into long-term procurement contracts to gain unfair advantage over farmers or sought that its suppliers buy from farmers at less than remunerative prices, nor will it ever do so.
Reliance and its affiliates are committed to doing everything to enrich and empower Indian farmers.
RIL, through its Petition in the High Court, has sought punitive and deterrent action against miscreants and vested interests, so that Reliance can run all its businesses smoothly in Punjab and Haryana once again.
RIL is India's largest private sector company. Its activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and digital services.
RIL's consolidated net profit fell 6.6% to Rs 10,602 crore on 25.5% decline in net sales to Rs 1,11,236 crore in Q2 September 2020 over Q2 September 2019.
The scrip gained 0.13% to Rs 1987.15 on Friday. It traded in the range of 1982.30 and 1997.30 during the day.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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