As $H_1.H_2 \subseteq G$, now we only have to check if it satisfies the properties of group
Now take $ h_1 = e, \text{ then } H_2 \subseteq H_1.H_2, \text{ same way take } h_2 = e$ then $H_1 \subseteq H_1.H_2$
Checking closure property i.e $x.y ∈ H_1.H_2, \text{for all x, y} ∈ H_1.H_2$
Suppose $a \in H_1 \text{ and } b ∈ H_2, \text{ then } a.b \in H_1.H_2 \text{, but it is not necessary that } b.a \in H_1.H_2$, unless the group G satisfies commutative property or $H_1 \subset H_2$ or vice versa.
$\therefore$ Closure property is not satsfied, statement is False.