Welspun Investments and Commercials Limited was originally incorporated as Welspun Investments Private Limited on 7th October 2008 under the Companies Act, 1956. The status of the Company was changed from “private company” to “public company” by passing the necessary resolution on 10th October 2008 and having obtained fresh certificate of incorporation from the Registrar of Companies, Gujarat on 21st October 2008. The name of the Company was further changed to Welspun Investments and Commercials Limited w.e.f. 31st March, 2010.
The company was formed with an object to acquire, hold, sell, buy or otherwise deal in any shares., units, stocks, debentures, debenture-stock, bonds, mortgages, obligations and other securities by original subscription, tender, purchase, change, gift or otherwise and to subscribe for the same, either conditionally or otherwise, and to underwrite, sub-underwrite or guarantee the subscription thereof to purchase and sell the above mentioned securities and to carry on and undertake the business of hire purchase, leasing including across border leasing, import leasing and to give on lease or on leave and licence basis, or in any other manner of all types of equipment, property and assets including all kinds of goods, articles or things whether movable or immovable and to act as discount and acceptance house, to arrange acceptance and co-acceptance of bills, to undertake factoring of bills, and other documents, to purchase the book debts and receivables and to lend' and give credit against the same, to draw, make, accept, endorse, discount execute, issue negotiate and sell bills of exchange, promissory notes and advance by discounting or otherwise with or without security upon such terms and conditions as the Company deems fit to borrow, to lend, to negotiate loans, to transact business as promoters, financiers, monetary agents, to raise -or provide venture capital, arrange securitisation of loans, long term debt instruments, real estate/property certificates, to undertake asset management, portfolio management, advisory counselling services.
The Hon‟ble High Court of Gujarat at Ahmedabad pursuant to its order dated May 8, 2009 (“Order”) sanctioned the Scheme of Arrangement in the nature of Demerger and transfer of Marketing Division of Welspun India Limited (“Marketing Division”) to Welspun Global Brands Limited and Investment & Treasury Division to Welspun Investments Limited (now known as Welspun Investments and Commercials Limited) (WINL) and Restructure of Capital of these companies. The Order was filed with the Registrar of Companies, Gujarat on June 12, 2009 and then the Scheme became effective from June 12, 2009 with appointed date being April 1, 2009.