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Wellesley Corporation Ltd. Company History and Annual Growth Details

1991 - The Company was incorporated under the Companies Act, 1956, on
23rd day of October, with the Registrar of Companies, Delhi &
Haryana. Certificate of commencement of business was obtained on
25th May, 1993. It is wholly owned subsidiary of Usha (I) Ltd.

- The main object of the company is to provide Housing buildings,
Industrial and Commercial Complexes and to contribute to overall
development of Urban Living.

- The company is engaged in development of Multi Storeyed
Buildings, Commercial Complex and Real Estate promotion.

1996 - The Company has signed MOUs with the owners of land for the
development of a commercial and residential complexes at

- The Company's Public Issue of Rs. 3.5 crores was subscribed 1.104
times and allotment of 35,00,400 equity shares of Rs. 10 each was
made on 28th August.

1998 - The Company part of the Rs 3,000-crore Group Usha, has signed a
memorandum of understanding with Malaysian software major Tamadun
Interakfit(m) Sdn Bhd to set up a software technology park (STP)
at Balanagar.

2000 - The company has received information that Usha General Foods Ltd.
has acquired 1,00,00,000 No. of equity shares of the company.

2002-Usha Housing Development Company Ltd has informed BSE that Dr M C Gupta was appointed as Managing Director of the company wef September 10, 2002 and Mr V K Gupta was appointed as Additional Director of the company on August 08, 2002. Mr S K Rastogi has resigned from the Board of the company wef September 11, 2002.