About Hindustan Vegetable Oils Corporation Limited (HVOC)
HVOC, a fully-owned Govt. Company, was formed in 1984 with merger of two nationalized companies namely Ganesh Flour Mills and Amritsar Oils Works. The Company was engaged in the business of manufacturing of Vanaspati, refining & packing of imported edible
oil for PDS and manufacturing of breakfast cereal. The Company was having its manufacturing and refining units at Delhi, Kanpur, Amritsar, Mumbai and Kolkata and packing units at Bangalore and Chennai. All the units except Breakfast Foods Unit (BFFU) located
in Delhi were closed in the year 2001. The liquidation of the company is presently being done exclusive of BFFU. The liquidator has so far disposed off the moveable assets of the units at Chennai, Mumbai, Amritsar, Bangalore and Kanpur. The Breakfast Food
Unit (BFFU) of HVOC, since it was not able to recover the incremental costs from the operation, to minimize the loss the production activities have been discontinued from June, 2011.
At present there are 97 employees left in HVOC. On the direction of Hon’ble High Court of Delhi there salaries and other dues are being paid from the funds available with liquidator after sale realization of moveable assets of HVOC.
The efforts were made by asking Central Warehousing Corporation (CWC) and Food Corporation of India (FCI) to carry out due diligence exercise so as to ascertain whether they can takeover HVOC along with its assets, liabilities and the remaining manpower.
These PSUs have indicated their inability to take over HVOC. Ordnance Factory Board (OFB) under Deptt. of Defence Production, Ministry of Defence (MoD) was also approached to consider take over of HVOC along with its assets and liabilities including manpower
and M/o Defence has informed that the matter is still under examination no decision has been taken by the Government.