The company was incorporated on May 25 1940 as Produce Dealers Private. Limited ln 1963 the company changed its name to Tungbhadra Pulp & Board Mills Ltd. and set up the first unit in Karnataka for manufacture of paper boards. Thereafter, in 1973, the company sold the unit and became a finance company engaged in financial services business. The name of the Company was changed to Hemakuta Industrial Investment Co. Ltd.
In 2012, the company was taken over by Mr K Kannan by acquiring 69.8% of total share holding in compliance with SEBI take over guidelines. In the last 10 years since the liberalization of financial sector and strict regulatory guidelines of Government Agencies, the Company had to compete in a significantly competitive environment and this had forced the Company to scale down its activities in investment in shares, stocks, debentures etc., in financial sector and therefore it was thought beneficial and advisable to change the main object clause and name of the Company with fresh objects for carrying on the business other than the existing activities To revive the activity of the Companyby taking advantage of the UIDAI initiative in India, the Company is now well equipped to offers technology solutions for both public and private entities to take advantage of the initiative as well.