The National Company Law Tribunal (NCLT) has ordered the dissolution of Greatship Oilfield Services Limited following the company's voluntary liquidation proceedings. This development marks the formal conclusion of the winding-up process for the oilfield services entity.

Corporate Dissolution Process

The tribunal's order represents the final step in the voluntary liquidation process that was initiated by Greatship Oilfield Services Limited. Under the voluntary liquidation framework, companies can choose to wind up their operations when they determine it is in the best interest of stakeholders.

NCLT's Role in Corporate Dissolution

The National Company Law Tribunal serves as the judicial authority for corporate matters under the Companies Act. The tribunal's dissolution order formally terminates the legal existence of Greatship Oilfield Services Limited, completing all necessary regulatory procedures.

Implications of the Order

The NCLT's dissolution order concludes all corporate formalities related to Greatship Oilfield Services Limited. This action effectively removes the company from the official registry, marking the end of its corporate existence following the completion of the voluntary liquidation process.

It's worth noting that Greatship Oilfield Services Limited was a subsidiary of Great Eastern Shipping Company , a prominent player in the shipping industry.

Great Eastern Shipping Company has announced the dissolution of its subsidiary, Greatship Oilfield Services Limited (GOSL), following an order from the National Company Law Tribunal (NCLT). This marks the completion of the voluntary liquidation process that was initiated in April 2025.

Corporate Structure and Dissolution Process

GOSL was a wholly owned subsidiary of Greatship (India) Limited (GIL), which itself operates as a wholly owned subsidiary of Great Eastern Shipping Company. The dissolution process commenced in April 2025 when the Board of Greatship (India) Limited approved the voluntary liquidation of GOSL.

Following the NCLT order, GOSL has officially ceased to exist as both a company and a subsidiary of GIL. The tribunal's decision represents the final step in the corporate restructuring process initiated by the company's board earlier this year.

Financial Position at Dissolution

The subsidiary's financial position at the time of dissolution was minimal, reflecting its inactive operational status:

Regulatory Compliance and Disclosure

The company has fulfilled its disclosure obligations under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, in conjunction with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The notification confirms that the dissolution does not involve any sale transaction, related party dealings, or scheme of arrangement.

Key regulatory aspects of the dissolution include:

• No consideration received from sale or disposal
• No involvement of external buyers or promoter group entities
• No related party transaction implications
• No scheme of arrangement requirements

Impact on Corporate Structure

With GOSL's dissolution, Great Eastern Shipping Company has streamlined its subsidiary structure by eliminating a non-operational entity. The dissolution removes a subsidiary that contributed no revenue to the group's operations while maintaining minimal net worth of ₹17.73 lakhs.

The completion of this corporate action demonstrates the company's ongoing efforts to optimize its subsidiary structure and eliminate dormant entities that no longer serve operational purposes within the group's business framework.