Kerala rejects Centre's objection, will take part in HLL auction, issues letter of intent to participate in auction

THIRUVANANTHAPURAM: Kerala will participate in the HLL auction, rejecting the opposition of the central government. KSIDC has submitted a letter of intent to participate in the auction on behalf of the state government. It will be participating in the auction for HLL's assets in Kerala. Earlier, the central government had said that Kerala could not participate in the auction.

The Centre had invited global bids for the strategic sale of HLL Lifecare Limited (HLL) as part of the disinvestment process. Kerala had earlier objected to the decision to sell the highly profitable HLL, a mini Ratna company of the central government situated in the state. The Finance Ministry also issued a letter stating that state governments could not take part in the HLL bidding procedure.

With the Centre going ahead with the decision, Kerala decided to take over the company by participating in the auction. In addition to the HLL headquarters under the Union Ministry of Health, all the four factories are located in Kerala.