 The company also set up Infrastructure Development Corporation (Karnataka) Ltd (IDECK) pursuant to a shareholders agreement between IDECK and the State of Karnataka, HDFC and IDFC.In 2002, the company incorporated IDFC Asset Management Company Ltd as a subsidiary company and Uttaranchal Infrastructure Development Company Ltd, a joint venture with the Government of Uttarakhand.In 2003 it became an investor in and sponsor of the India Development Fund.