It isn't a true passive voice. As you suggested, it is a past participle used as an adjective. [ >>Where are you located in?
New words, one handy idiom, and a 2-minute quiz — delivered to your inbox to keep your streak alive.
harry1999The company is located in Mumbai.First of all, in is located, located is not verb and thus it is not passive voice.
harry1999The company is located in Mumbai by my boss' relative's workers.Here it is acting as a passive voice.But it has an impossible meaning, namely, that your boss's relative's workers locate the company in Mumbai [every day / regularly / all the time]. You could put this in the past for a one-time event: