New Delhi: The central government is preparing to sell the entire stake in HLL Lifecare Limited, the company that manufactures Moods condoms. Bids have also been requested by the central government for this. However, now this disinvestment process has been challenged in the Supreme Court. According to media reports, a petition is being filed in the apex court seeking a stay on the disinvestment process. At the same time, the court has sought a response from the Central Government and others on this matter.
A bench of Justices S A Nazeer and Ramasubramanian sought a response from the Centre and others on the plea filed by the Sabka Sahyog Society. The petitioner has said that HLL Lifecare was the nodal agency in the procurement of PPE kits during the Corona pandemic. There was also an agency to procure the vaccine. Referring to the role of HLL Lifecare in emergency relief operations, the petition filed in the Supreme Court has said that the vaccination drive is still going on to deal with the Corona epidemic. In such a situation, the country cannot afford to privatise an institution like HLL Lifecare at this critical juncture.
HLL Lifecare Limited is a central public sector undertaking under the Union Ministry of Health and Family Welfare. It is involved in the manufacture and distribution of condoms as well as contraceptives, women's health care products as well as other medicines. It is also associated with health care and investigation services to detect a variety of diseases. Now the central government wants to sell its entire stake in the same HLL Lifecare Limited. Bids have been invited by the Department of Investment and Public Asset Management, in which many companies have shown interest.
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