The document provides information about an unnamed company that was founded in 1971 with permissions largely due to the managing director's close relations to the then Prime Minister of India, Indira Gandhi. The company went into liquidation in 1977 and was then nationalized in 1981 to revive it. In 1982 it entered into a joint venture with another company Y with a 60:40 shareholding structure. Iconic product production began in 1983 and the joint venture became very successful. In 2006 the government sold all its shares in the joint venture to a private investment group, making the company a subsidiary of Y. In 2015 the subsidiary became valued more than its parent company Y, becoming the first to do so worldwide.