About Hindustan Vegetable Oils Corporation Limited (HVOC)

Hindustan Vegetable Oils Corporation Limited (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 had its manufacturing and refining units at Delhi, Kanpur, Amritsar, Mumbai and Kolkata and packing units at Bangalore and Chennai. Due to continuous losses, company was referred to Board for Industrial and Financial Reconstruction (BIFR) and declared sick in 1999. The company is now under liquidation under the supervision of the High Court of Delhi.

Present Status

Presently, all the units of HVOC stand closed and ll the employees have accepted voluntary separation/scheme/Improved Voluntary Retirement Schemes (IVRS). The company does not have any employee on its roll.  The liquidator has disposed off the moveable assets of units Chennai, Amritsar, Kanpur, Delhi Mumbai, Bangalore and Kolkatta. The liquidator has also settled the due of all outsider creditors of MOVC except claims under litigation.

As far as immovable assets (Lands) of HVOC are concerned, the Union Cabinet in its meeting held on 30.11.2017 and order dated 20.12.2017 of High Court of Delhi, all the landed assets of HVOC has been handed over to L&DO/CPWD, MoHUA during 19.02.2018 to 03.04.2018. The Cabinet in the aforesaid meeting also decided to wave off the liabilities of HVOC towards loans taken from the Government. 

Presently, there are total 22 court cases involving HVOC in various cities. The Government has also decided to provide funds to MVOC to meet any liability that may arise from these court cases.  Dissolution of HVOC u/s 481 of the Companies Act, 1956 can only be done by the High Court when winding up activities are completed.

Functions

Policy decision on disposal of assets and winding up of HVOC

Policy decision on allocation of Funds to

Appointment of Directors on the Board of

Court cases on various matters relating to HVOC Ltd.

Yearly Review of performance of HVOC and laying of Annual Reports on the table of both houses of Parliament

Work relating to Parliament Assurance, Facts, and Questions etc. on HVOC

Other miscellaneous work including VIP reference, O&M work, Record Management etc.

Any other function assigned from time to time.

Organisation Setup