Govt reply sought on plea against HLL disinvestment | The Financial Express

Govt reply sought on plea against HLL disinvestment

The GoI has envisaged the strategic disinvestment of HLL as a whole rather than separately in parts, where Interested Bidders can bid individually or in consortium,” the government said in the information memorandum.

Govt reply sought on plea against HLL disinvestment
In March this year, the government said it has received multiple preliminary bids for HLL Lifecare

The Supreme Court on Friday issued notice to the Centre and others on a petition challenging the government’s decision to disinvest HLL Lifecare Ltd, the manufacturer of a range of contraceptives, women’s healthcare products, hospital supplies as well as other pharmaceutical products.

A bench led by Justice SA Nazeer sought responses from the Centre and others on the petition filed by ‘Sabka Sahyog Society,’ which said that the company role during the Covid pandemic was noteworthy for the procurement and supply of emergency medical items.

While referring to the role played by HLL Lifecare during emergency relief, it said the country cannot afford to privatisation an entity like HLL Lifecare at this crucial juncture when the vaccination drive is still going on against the pandemic. In March this year, the government said it has received multiple preliminary bids for HLL Lifecare.

The GoI has envisaged the strategic disinvestment of HLL as a whole rather than separately in parts, where Interested Bidders can bid individually or in consortium,” the government said in the information memorandum. The Department of Investment and Public Asset Management (DIPAM) had invited preliminary bids for selling the government’s 100% stake in the health sector Central Public Sector Enterprise (CPSE) under the administrative control of the Union Ministry of Health and Family Welfare.

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