1. The petroleum co. can claim ONLY IF the Title-Ownership or the Lease deed is still in force on records. Here neither of it is vested to the petroleum co. Hence there is nothing that the petroleum company can claim. As it is the limitation period of three years is also over for any claims.
2. Only things that need attention, is any outstanding dues or guarantee the original land owner might have given for petroleum business purposes
3. Issue a Legal Notice to the co., to remove any material that may be owned by them, within so-&-so days, failing which it will be disposed off. Check this with the original land lord.
Keep Smiling .... Hemant Agarwal