The management and employees of Hindustan Antibiotics Ltd suspect that a move is on, to hand over the company to private bidders by invalidating the proposal submitted by HAL. The HAL proposal, submitted to the ministry of chemicals and fertilizers and to the IDBI soon after BIFR announced private bidding, is yet to be cleared by the ministry, it is learnt. Without the ministry's approval, IDBI cannot consider the HAL proposal for bidding.

Three other proposals with IDBI are of the Mumbai-based KP Sales, Pune-based Thombre Group and a Workers Co-op Limited, which is another private sector firm based in Pune. However, these proposals have not been accepted by IDBI, the operating agency, as they have not paid the stipulated Rs.5 crore earnest money along with their documents. With this, the only proposal that is valid for consideration is the one submitted by the Mumbai-based Sun Pharmaceuticals.

Though there is only one month left for the closure of the bidding time, which was extended by the BIFR, the government is learnt to be not in a mood to approve the bid document as it is allegedly giving its way to the private sector company to succeed in the bid.

However, the only employees union in the company, Hindustan Mazdur Sangh, is all set to scuttle the privatisation move in the company saying that it will not allow the government to take an unfair decision in this regard. "Currently we are in the process of persuading the ministry to get the due approval for our proposal to revive the company by participating in the BIFR decided bidding. If the government decides otherwise, we will have to think about protesting the move," said Arun Bhorade, general secretary, HMS.

According to company sources, the HAL proposal submitted to IDBI to undertake the company has been prepared in the consideration of the company's present capacity to revive it without any fresh fund infusion from the government.

"We want the company to be retained in the public sector for which we have prepared a restructuring proposal. Since the BIFR wanted to call for a private bidding for the change of management, we are ready to participate in that as well. Again, if the ministry acts with vested interests to favour some private parties, it is unfair and we will have to resort to protests," Bhorade said.

He added that the Union leaders is planning to meet the Prime Minister once again to request him to intervene in the case and to ensure justice to the public sector company and also to the 2000 odd employees. Earlier, the Prime Minister had intervened in the matter when the BIFR issued a closure notice to the company and he had promised the employees union that the company will not be liquidated. Following this, the BIFR reconsidered its decision for closure and extended the time for private bidding for a change of management in the company.