The report of the three-member internal committee listed Mukhopadhyay’s mistakes, who was an assistant to Chairman Natarajan Chandrasekaran, but stopped announcing Mukhopadhyay Guilty, deeming his actions not intentional. The report submitted to Chandrasekaran last week was shared with other members of the board of directors of nine members Tata’s son.
“Prima FacieMr. Mukhopadhyay has made mistakes in making full and timely disclosures to Tata Sons’ competent authority, his involvement with (a) his activities with Divinion and (b) his participation and relationships, (b) his participation and relationships, (b) his tender for Tata Companies or other terms of responsibility (especially persons within his terms of responsibility) or persons with officials (especially his duties) or persons with professionals (especially his duties) or due to his role in the company, and (c) any transaction between Division and any Tata Group entity where he is a director/trust (especially from TATA investment to Division Trust or Division Trust or Division Strive Center of TATA Investment to Division Trust’s authorization (CORMATE SORICATE) grant,”
“However, there seems to be no intentional violation of the Tata Code of Conduct or mala fide “His intention is to gain personal benefits by harming the interests of his employer entity (Tata son) or relevant Tata Group entities designated in the news report,” the report said.
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The three-member committee consists of Nupur Mallick, head of human resources for Tata son, and Eru (N.
Emails and mukhopadhyay sent to Tata son have not been answered yet.
The report did not determine the tender attributed to Mukhopadhyay. However, during the investigation, Mukhopadhyay told the three members of the committee ₹Last year, the Corporate Social Responsibility Fund (CSR) from Tata Investment Corp. purchased real estate from his in-laws.
“ ₹20 lacs in FY25 are heading towards the cost of the purchase of the Divinion Foundation Trust to establish a study school for various activities of the trust, which is ₹$133 million. ” the report said.
“At the time of inquiry, Mr. S. Mukhopadhyay now informed that the above-mentioned house was purchased by a trust fund in Kolkata from the parents of Mrs. Paromita Mukhopadhyay,” the report said.
Tata Investment Corp.’s fiscal 24 report shows ₹Contributed to the 1 million CSR of the Division Foundation Trust, the foundation regards Mukhopadhyay’s family members as trustees.
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“Four things can be clearly seen from the findings of this report,” said an administrator to development under anonymity. “Firstly, Mukho (Mukhopadhyay) violated the Tata Code of Conduct as he failed to make the requestite discoveries. Secondly, he did solicit funds and asked former Tata Group executives to join Division. Third, the question of CSR funds given to Division and his point of recusing himself when the Tata Group companies gave funds to Division does not mean much. Finally, the report states that there were no malicious intentions.”
“The question is now whether the Tata son’s board of directors will accept this report,” the executive added.
“Good corporate governance principles require a capable independent external agency to thoroughly investigate anything related to key management personnel,” said V. Balakrishnan, former chief financial officer of Infosys Ltd. “The area for independent directors of the board is to ensure independent investigations are conducted and appropriate measures are taken.”
The report also clarifies why Division Advisory Services served as TATA Group Company in 2022.
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In 2022, Tata Pension Management Co., Ltd. listed Division as one of the 473’TATA Group and sponsor companies. Tata Pension Management is supported by Tata Asset Management Ltd, a director of Mukhopadhyay.
“Tata AMC used to consider the following factors while preparing the list of group cos of sponsors, including associates: TSPL (Tata Sons Pvt. Ltd) list of subsidiaries as sourced from Tata Sons (and) companies in which AMC directors and/or their relatives were directors/members as sourced from their MBP-1,” Shailly Kedia, head of legal and secret at Tata Asset Management, written in The April 17 email was Kapadia, one of three members of the committee.
MBP-1 is a specific form number specified by the Company Affairs Department.
“So, Division Advisory ServicesPvt. Ltd’s name is reflected in the AMC list as a relative of one of the AMC directors is a member of it. In 2023, the process was revised and the relatives/members of the AMC directors were excluded from the company,” Kedia said.
Tata’s son starts investigation within a few days Mint In the April 15 edition, both Mukhopadhyay, 61, disclosed Divinion, a company that his family owns fully, and his invitation to join Divinion or investing in it, violated the TATA Code of Conduct.
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Mukhopadhyay’s daughters Shreemoyee and Mother Paromita owned 50% of the company when they were founded, according to a document submitted by Division to the Corporate Affairs Department. In fiscal 24, Suprakash’s youngest daughter Shreenandini joined the shareholders. paromita, Shreemoyee and Shreenandini have 100% Division at the end of March 2024. Shreemoyee resigned as CEO in June 2023 and in March 2024. According to the latest share information, Paromita, Paromita, shares 33.34% of her daughters, each sister and other sisters, as well as other sisters, as well as other sisters, as well as 33.334% of her sisters, as well as 33.34% of her sisters, as well as 33.34% of her sisters, as well as 33.34% of her sisters, as well as 33.34% of her sisters, as well as 33.34% of her sisters and sisters.
In 2021, Divinion Consulting Services established Divinion Alternative India Fund, a SEBI registered alternative India fund that invests in stocks. Divinion’s income from ₹4.09 million billion in 2023 ₹194 million in 2024. It reports net profit ₹Last year, 4.372 million ₹2023 is 1,630.
Mukhopadhyay joined the Tata Group in 1988 and then moved to Tata in 2000. Chandrasekaran was commissioned as chairman of Tata Sons after directing TCS as CEO between 2009 and February 2017. Chandrasekaran’s first executive selected from the Tata Group was Mukhopadhyay, who joined Tata son in April 2017.
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Tata Sons, the main holding company of Tata Group, owns stakes in 26 listed companies, including Tata Motors Ltd, Tata Steel Ltd and Tata Consultancy Services Ltd., with cumulative revenues of more than $165 billion. Tata Sons is owned by Tata Trusts 65.9% of the shares, 12.87% multiplied by Tata Group Companies, while Mistry Family owns 18.4%.
