In 1976, Shiv Nadar, Arjun Malhotra, Subhash Arora, Badam Kishore Kumar, T.V Bharadwaj and Arun Kumar H jointly started a company named Microcomp Limited. The focus of the company was design and manufacturing of scientific calculators. The venture provided its founders money to start a company that focused on manufacturing computers. The company name "HCL" used to stand for "Hindustan Computer Limited" but now HCL is the only one name that the company goes by. HCL received support from theGovernment of Uttar Pradesh to set up manufacturing in Noida. On February 1, 2013, Nadar announced that he would step down as chairman of HCL Corporation and his daughter Roshni Nadar would become the next chairman.